Hangzhou Zhongtai Cryogenic Technology Corporation commences an Equity Buyback Plan for CNY 100 million worth of its shares, under the authorization approved on February 20, 2024.

Hangzhou Zhongtai Cryogenic Technology Corporation (SZSE:300435) commences share repurchases on March 19, 2024, under the program mandated by the shareholders in the Annual General Meeting held on February 20, 2024. As per the mandate, the company is authorized to repurchase up to CNY 100 million worth of its shares. The shares will be repurchased at no more than CNY 19.88 per share.

The purpose of the program is to use the repurchased shares for equity incentives or employee stock ownership plans. The program will be funded from company's own funds.