Essence Information Technology Co., Ltd. commences an Equity Buyback Plan for CNY 4.61 million worth of its shares, under the authorization approved on January 17, 2023.

Essence Information Technology Co., Ltd. (SHSE:688555) commences share repurchases on March 2, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on January 17, 2023. As per the mandate, the company is authorized to repurchase up to CNY 4.61 million worth of its shares. The shares will be repurchased at a price of not more than CNY 10.26 per share.

The shares repurchased by the company will be reduced by means of centralized bidding transactions. The program will be funded out of the company's own funds. The program will be valid till 12 months.