Sichuan Zigong Conveying Machine Group Co., Ltd. (SZSE:001288) commences share repurchases on March 26, 2024, under the program mandated by the shareholders in the Annual General Meeting held on March 18, 2024. As per the mandate, the company is authorized to repurchase up to CNY 200 million worth of its shares. The repurchase price will not more than CNY 25 per Share.

The repurchased shares will be used for employee stock ownership plan or equity incentives and cancellation to reduce registered capital at an appropriate time in the future. The repurchases will be funded using company's own funds. The repurchase period will be not more than 12 months.

As of February 29, 2024, the company had 160,000,000 shares outstanding.