Shanghai Fudan Forward S&T Co., Ltd commences an Equity Buyback Plan for CNY 70 million worth of its shares, under the authorization approved on April 8, 2021.

Shanghai Fudan Forward S&T Co., Ltd (SHSE:600624) commences share repurchases on June 29, 2021, under the program mandated by the shareholders in the Extraordinary General Meeting held on April 8, 2021. As per the mandate, the company is authorized to repurchase up to CNY 70 million worth of its common shares. The repurchase price will not exceed CNY 8.5 per share.

The repurchased shares will be will be used for subsequent implementation of equity incentives. The repurchase program will be valid for 12 months from the date of shareholders meeting.