Ningbo Sunrise Elc Technology Co.,Ltd commences an Equity Buyback Plan for CNY 60 million worth of its shares, under the authorization approved on February 23, 2024.

Ningbo Sunrise Elc Technology Co.,Ltd (SZSE:002937) commences share repurchases on February 28, 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 up to CNY 60 million worth of its A shares. The shares repurchases will be funded from company's own funds.

The repurchased shares will be used for implementation of equity incentive plans or employee stock ownership plans. The program is valid for 12 months from the date when the shareholders' meeting approves the share repurchase plan.