Funshine Culture Group Co.,Ltd. commences an Equity Buyback Plan for CNY 100 million worth of its shares, under the authorization approved on February 29, 2024.

Funshine Culture Group Co.,Ltd. (SZSE:300860) commences share repurchases on March 11, 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 100 million worth of its common shares. The shares will be repurchased at a price of not more than CNY 65.49 per share.

The repurchased shares will be used to implement equity incentive plans or employee Stock ownership 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.