Shaanxi Fenghuo Electronics Co., Ltd. commences an Equity Buyback Plan for CNY 9.6 million worth of its shares, under the authorization approved on May 13, 2024.

Shaanxi Fenghuo Electronics Co., Ltd. (SZSE:000561) commences share repurchases on May 21, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 13, 2024. As per the mandate, the company is authorized to repurchase to repurchase CNY 9.6 million worth of its common shares. The shares will be repurchased at a price of not more than CNY 11.59 per share.

The repurchased shares will be used for cancellation to reduce the Company's registered capital. The program will be funded out of the company's own funds. The program will be valid till 12 months from the date of approval by shareholders.