Lizhong Sitong Light Alloys Group Co., Ltd. (SZSE:300428) commences share repurchases on November 1, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on October 9, 2023. As per the mandate, the company is authorized to repurchase up to CNY 50 million worth of its shares. The repurchase price will not be more than CNY 34 per share.

The repurchased shares will be used to implement employee stock ownership plans or equity incentive plans. The source of funds for repurchases is company's self-owned funds. The program will be valid for 12 months.

As of September 21, 2023, the company had 625,122,129 shares outstanding.