Hangzhou Electronic Soul Network Technology Co., Ltd. (SHSE:603258) announces a share repurchase program. Under the program, the company will repurchase up to CNY 40 million worth of class A shares. The shares will be repurchased at a price of not more than CNY 38.46 per share.

The price shall not be higher than 150% of the average trading price of the company's stock in the 30 trading days before the company's board of directors passes the repurchase resolution. The shares purchased will be used for the company's equity incentives. The program will be funded out of the company's own funds.

The program will be valid for 12 months.