Shanghai Bright Power Semiconductor Co., Ltd. (SHSE:688368) announces a share repurchase program. Under the program, the company will repurchase up to CNY 60 million worth of its A shares. The company will use up to CNY 30 million for employee stock ownership plans and equity incentives and up to CNY 30 million to safeguard the company's value and shareholders' rights. The shares will be repurchased at a price not more than CNY 130.84 per share. The purpose of the program is to safeguard the company's value and shareholders' rights and to use the repurchased shares for the employee stock ownership plans and equity incentives. If the company fails to use the shares for said purpose within 3 years of completion of program, the unused shares will be cancelled. The company will use its own fund to fund the repurchases. The authorization will be valid for a period of 3 months for the purpose of maintaining the company's value and shareholders' interests and 12 months for equity incentives.

On June 6, 2024, the company announced that it has adjusted its repurchase price from CNY 130.84 per share to CNY 93.77 per share.