Beijing ZZNode Technologies Co., Ltd. commences an Equity Buyback Plan for CNY 60 million worth of its shares, under the authorization approved on December 15, 2021.

Beijing ZZNode Technologies Co., Ltd. (SZSE:003007) commences share repurchases on February 8, 2022, under the program mandated by the shareholders in the Extraordinary General Meeting held on December 15, 2021. As per the mandate, the company is authorized to repurchase class A shares for not more than CNY 60 million. The shares will be purchased at a price not exceeding CNY 25 per share.

The repurchases will be funded through its own funds. The repurchased shares will be used for implement equity incentives or employee stock ownership plans. The repurchase program is valid for a period of 12 months from shareholders' approval.