Hubei Fuxing Science and Technology Co.,Ltd (SZSE:000926) commences share repurchases on March 12, 2021, under the program mandated by the shareholders in the Extraordinary General Meeting held on February 24, 2021. As per the mandate, the company is authorized to repurchase class A shares for not more than CNY 600 million. The shares will be purchased at a price not exceeding CNY 18 per share.

The repurchased share will be used for equity incentive plans. The repurchase will be funded from company's own or self-raised funds. The repurchase program is valid for a period of 12 months from shareholders' approval.