Stanley Agriculture Group Co.,Ltd. commences an Equity Buyback for CNY 50 million worth of its shares, under the authorization approved on January 5, 2024.

Stanley Agriculture Group Co.,Ltd. (SZSE:002588) commences share repurchases on January 26, 2024, under the program mandated by the shareholders in the Extraordinary General Meeting held on January 5, 2024. As per the mandate, the company is authorized to repurchase its A shares for a total of CNY 50 million. The shares will be purchased at a price not exceeding CNY 7 per share.

The repurchased shares will be used to cancel and reduce the company's registered capital. 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.