Zhejiang Jihua Group Co., Ltd. (SHSE:603980) commences share repurchases on March 25, 2024, under the program mandated by the shareholders in the Extraordinary General Meeting held on March 18, 2024. As per the mandate, the company is authorized to repurchase to repurchase CNY 120 million worth of its common shares. The shares will be repurchased at a price of not more than CNY 5 per share.

The purpose of the program is effectively protect the interests of all shareholders and enhance the confidence of public investors in the company. The shares repurchased will be used to reduce registered capital. The program will be funded out of the company's own funds.

The program will be valid till 6 months from the date of approval by shareholders.