Zhejiang Century Huatong Group Co.,Ltd (SZSE:002602) commences share repurchases on May 6, 2022, under the program mandated by the shareholders in the Extraordinary General Meeting held on March 1, 2022. As per the mandate, the company is authorized to repurchase up to CNY 1,000 million worth of its shares. The shares will be repurchased at a price of not more than CNY 10 per share.

The shares purchased will be used for the company's equity incentive plan or employee stock ownership plans or reduction of registered capital. The program will be funded out of the company's own funds or self-raised funds.