Guizhou Xinbang Pharmaceutical Co., Ltd. commences an Equity Buyback Plan for 14,705,882 shares, representing 0.76% for CNY 200 million, under the authorization approved on July 13, 2023.

Guizhou Xinbang Pharmaceutical Co., Ltd. (SZSE:002390) commences share repurchases on July 14, 2023, under the program mandated by shareholders in the Extraordinary General Meeting held on July 13, 2023. As per the mandate, the company is authorized to repurchase up to 14,705,882 shares, representing 0.76% of its share capital for CNY 200 million. The price to be paid for repurchase should not be more than CNY 6.80 per share.

The repurchased shares will be used for equity incentives or employee stock ownership plans. The authorization will be valid for 12 months.