Puya Semiconductor (Shanghai) Co., Ltd. (SHSE:688766) announces a share repurchase program. Under the program, the company will repurchase up to CNY 70 million worth of its shares. The shares will be repurchased at a price of not more than CNY 240 per share.

The repurchased shares will be used for employee stock ownership and/or equity incentive plans at an appropriate time in the future. If the company fails to use up the repurchased shares within 3 years after the implementation result of the share repurchase and the announcement of the share change, the unused repurchased shares will be cancelled. The repurchase program will be funded from the company's initial public offering over-raised funds.

The program will be valid for a period of 12 months.