Zhuzhou CRRC Times Electric Co., Ltd. commences an Equity Buyback for 54,732,940 shares, representing 10% of its issued share capital, under the authorization approved on June 27, 2023.

Zhuzhou CRRC Times Electric Co., Ltd. (SEHK:3898) commences share repurchases on January 11, 2024, under the program mandated by the shareholders in the Annual General Meeting held on June 27, 2023. As per the mandate, the company is authorized to repurchase up to 54,732,940 H shares, representing 10% of its issued share capital of H shares. The repurchases will result in an increase in the net asset value and/or earnings per share.

The repurchase program will be funded out of funds legally available for the purpose in accordance with the Articles of Association, the Listing Rules and the applicable laws, rules and regulations of the PRC. The repurchased H shares will be automatically cancelled. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is varied or revoked in a General Meeting.

As at June 27, 2023, the company has 1,416,236,912 shares in issue comprising 547,329,400 H shares and 868,907,512 A shares.