Dioo Microcircuits Co., Ltd. Jiangsu (SHSE:688381) commences share repurchases on March 19, 2024, under the program mandated by the shareholders in the Extraordinary General Meeting held on March 13, 2024. As per the mandate, the company is authorized to repurchase to repurchase CNY 100 million worth of its common shares. The shares will be repurchased at a price of not more than CNY 41.68 per share.

The purpose of repurchase program is cancellation and corresponding reduction of registered capital. The source of funds for this repurchase is the excess proceeds obtained from the company?s initial public offering of ordinary shares. The program will be valid till 12 months from the date of approval by shareholders.