Suzhou Oriental Semiconductor Company Limited commences an Equity Buyback Plan for CNY 50 million worth of its shares, under the authorization approved on October 9, 2023.

Suzhou Oriental Semiconductor Company Limited (SHSE:688261) commences a share repurchases on October 31, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on October 9, 2023. As per the mandate, the company is authorized to repurchase up to CNY 50 million worth of its shares. The shares will be repurchased at a price not more than CNY 140 per share.

The repurchased shares will be used for employee stock ownership plan and/or equity incentives. The authorization will be valid for a period of 12 months from the date of shareholders' approval.