Nanjing Hanrui Cobalt Co.,Ltd. commences an Equity Buyback Plan for CNY 50 million worth of its shares, under the authorization approved on December 8, 2023.

Nanjing Hanrui Cobalt Co.,Ltd. (SZSE:300618) commences share repurchases on February 27, 2024, under the program mandated by shareholders in the Extraordinary General Meeting held on December 8, 2023. As per the mandate, the company is authorized to repurchase up to CNY 50 million worth of its shares. The shares will be repurchased at no more than CNY 45.08 per share.

The purpose of the program is to reduce the share capital of the company. The repurchased shares will be cancelled. The program will be funded from company's own funds.

The authorization will be valid for 12 months.