Ningbo BaoSi Energy Equipment Co., Ltd. (SZSE:300441) commences share repurchases on March 1, 2024, under the program mandated by the shareholders in the Extraordinary General Meeting held on February 23, 2024. As per the mandate, the company is authorized to repurchase to repurchase CNY 100 million worth of its common shares. The shares will be repurchased at a price of not more than CNY 9 per share.

The purpose of the program is to safeguard the interests of investors and enhance investor confidence and reduce share capital by cancelling repurchased shares. The program will be funded out of the company's own funds. The program will be valid till 3 months from the date of approval by shareholders.