Shanghai Smart Control Co., Ltd. commences an Equity Buyback for CNY 15 million worth of its shares, under the authorization approved on November 24, 2023.

Shanghai Smart Control Co., Ltd. (SZSE:001266) commences share repurchases on January 11, 2024, under the program mandated by the shareholders in the Extraordinary General Meeting held on November 24, 2023. As per the mandate, the company is authorized to repurchase its own shares for a total of CNY 15 million. The shares will be purchased at a price not exceeding CNY 43.73 per share.

The repurchased shares will be used for the implementation of ESOP or equity incentive plan. The program will be funded from company's own funds. The program will be valid for 12 months from the date of the shareholder's meeting.