Shanghai YongLi Belting Co., Ltd (SZSE:300230) commences share repurchases on December 26, 2023, under the program mandated by the shareholders in the Annual General Meeting held on November 21, 2023. As per the mandate, the company is authorized to repurchase up to CNY 15 million worth of its common stock. The shares will be repurchased at a purchase price of CNY 5.80 per share.

The program will be funded from company's own funds. The shares repurchased will be cancelled. The program will be valid for 12 months from shareholders meeting?s approval date.