Huizhou China Eagle Electronic Technology Inc. commences an Equity Buyback Plan for CNY 90 million worth of its shares, under the authorization approved on April 1, 2022.

Huizhou China Eagle Electronic Technology Inc. (SZSE:002579) commences share repurchases on April 7, 2022, under the program mandated by the shareholders in the Extraordinary General Meeting held on April 1, 2022. As per the mandate, the company is authorized to repurchase not more than CNY 90 million worth of its class A shares. The shares will be repurchased at a price not more than CNY 12 per share.

The shares repurchased by the company will be used to cancel the registered capital in accordance with the law. The repurchases will be funded from self-owned funds or self-raised funds. The program will run over a period of 12 months from the date of shareholder's approval.