Shenzhen Yanmade Technology Inc. (SHSE:688312) announces a share repurchase program. Under the program, the company will repurchase up to CNY 60 million worth of its shares. The shares will be purchased at a price not exceeding CNY 21 per share. The purpose of the program is to improve the company's long-term incentive mechanism, fully mobilize the enthusiasm of the employees, improve cohesion, and effectively combine the interests of shareholders, the company and the personal interests of employees. The repurchased shares will be used for the implementation of ESOP or equity incentive plan, otherwise will be cancelled if the company fails to utilize them within three years after the company discloses the implementation results of the share repurchase and the announcement of share changes. The program will be funded from company's own funds. The program will be valid for 12 months.

On July 6, 2023, the company announced that it has adjusted its repurchase price from CNY 21 per share to CNY 20.80 per share.