Asymchem Laboratories Co., Ltd. commences an Equity Buyback Plan for CNY 1,200 million worth of its shares, under the authorization approved on February 29,2024.

Asymchem Laboratories (Tianjin) Co., Ltd. (SZSE:002821) commences share repurchases on March 7, 2024, under the program mandated by the shareholders in the Extraordinary General Meeting held on February 29, 2024. As per the mandate, the company is authorized to repurchase to repurchase CNY 1,200 million worth of its common shares. The shares will be repurchased at a price of not more than CNY 157 per share.

The purpose of the repurchase program is to implementation of the employee stock ownership plan or equity incentive plan. The program will be funded out of the company's own funds. The program will be valid till 12 months from the date of approval by shareholders.