Shenzhen Tongyi Industry Co., Ltd. (SZSE:300538) announces a share repurchase program. Under the program, the company will repurchase up to CNY 20 million worth of its A shares. The shares will be repurchased at no more than CNY 15 per share. The purpose of the program is to use the repurchased shares for employee stock ownership plans or equity incentives. If the company fails to use the shares for the said purpose within 36 months of completion of the program, the unused shares will be cancelled. The program will be funded from company's own funds. The plan will be valid for 12 months.

On May 29, 2024, the company announced that it has adjusted its repurchase price from CNY 15 per share to CNY 14.96 per share. The adjustment will be effective from May 30, 2024.