Fujian Star-net Communication Co., LTD. commences an Equity Buyback Plan for CNY 100 million worth of its shares, under the authorization approved on November 28, 2023.

Fujian Star-net Communication Co., LTD. (SZSE:002396) commences an Equity Buyback Plan on December 14, 2023, under the program mandated by shareholders in the Extraordinary General Meeting held on November 28, 2023. As per the mandate, the company is authorized to repurchase up to CNY 100 million worth of its Class A shares. The shares will be repurchased at a price not more than 23.8 per share.

The company intends to fund repurchases from its own funds. The authorization will be valid for 6 months.