Zhejiang Lianxiang Smart Home Co., LTD (SHSE:603272) announces a share repurchase program. Under the program, the company will repurchase its own shares for a total of CNY 50 million. The shares will be purchased at a price not exceeding CNY 23.82 per share.

The purpose of the program is to safeguard the interests of all shareholders, effectively fulfill social responsibilities, implement the action plan of improving quality, increasing efficiency and focusing on returns; actively implement investor returns and strengthen investor communication, effectively convey the company's value and establish a good image of the company in the capital market; further improve the company's long-term incentive mechanism, thereby fully mobilizing the enthusiasm of the company's management and core personnel, and enhancing investment investors' investment confidence in the company, while effectively integrating the interests of shareholders, the company's interests and the personal interests of employees; promote the company's long-term stability and sustainable development. The repurchased shares will be used for the implementation of ESOP or equity incentive plan. If the company fails to use up the repurchased shares within 3 years after the announcement of the implementation results of this share repurchase and the announcement of share changes, the unused repurchased shares will be cancelled.

The program will be funded from company's own funds. The program will be valid for 12 months.