WuXi Xinje Electric Co.,Ltd. (SHSE:603416) commences a share repurchases on February 20, 2024, under the program mandated by the shareholders in the Extraordinary General Meeting held on February 5, 2024. As per the mandate, the company is authorized to repurchase up to CNY 40 million worth of its Class A shares. The shares will be repurchased at no more than CNY 56.73 per share.

The purpose of the program is to use shares for ESOP or equity incentives. The program will be valid for 12 months.