Hangzhou Hopechart IoT Technology Co.,Ltd (SHSE:688288) announces a share repurchase program. Under the program, the company will repurchase up to CNY 40 million worth of its shares. The company will use CNY 32 million worth of its shares to be used for maintaining the company's value and shareholders' rights and interests and it will use CNY 8 million worth of its shares to be used for employee stock ownership plans or equity incentives.

The shares will be repurchased at no more than CNY 28 per share. The program will be funded from company's own funds or self-raised funds. The plan will be valid for 3 months for the purpose of maintaining the company's value and shareholders' rights and interests and for 12 months for the purpose of repurchasing shares to be used for employee stock ownership plans or equity incentives.