JinGuan Electric Co., Ltd. (SHSE:688517) announces a share repurchase program. Under the program, the company will repurchase up to CNY 40 million worth of its shares. The repurchase price will not be more than CNY 20.45 per share .

The shares repurchased are used for employee stock ownership plans or equity incentives to and safeguard company value and shareholder rights. The source of funds for repurchase of shares is the company?s own funds. The program will be valid for 12 months.

As of February 6, 2024, the company had 136,613,184 shares outstanding.