GCH Technology Co., Ltd. (SHSE:688625) commences share repurchases on December 12, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on November 14, 2023. As per the mandate, the company is authorized to repurchase up to CNY 100 million worth of its shares. The price for repurchasing shares shall not exceed CNY 46.50 per share.

The repurchased shares will be used for equity incentives and/or employee stock ownership plans. The repurchases will be funded using company?s own funds. The program is valid for 12 months.

As of September 28, 2023, the company had 135,327,698 shares outstanding.