Songz Automobile Air Conditioning Co., Ltd (SZSE:002454) commences share repurchases on December 28, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on October 18, 2022. As per the mandate, the company is authorized to repurchase up to CNY 20 million worth of its common shares. The shares will be purchased at a price not exceeding CNY 10 per share.

The repurchased shares will be used for employee stock ownership plans or equity incentive plans. The program will be funded from company's own funds. The program will be valid for 6 months.