Shandong New Beiyang Information Technology Co., Ltd. (SZSE:002376) commences a share repurchases on February 1, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on January 11, 2023. As per the mandate, the company is authorized to repurchase up to CNY 80 million worth of shares. The shares will repurchased at a price not more than CNY 10.30 per share. The company will use its own funds to repurchase the its shares. The repurchased shares are intended to be used for cancellation of the company’s registered capital. The program is valid for 6 months from the date of approval by the shareholders.

On June 1, 2023, the company announced that the maximum repurchase price will be adjusted from CNY 10.30 per share to CNY 10.15 per share.