Wuxi Zhenhua Auto Parts Co., Ltd. commences an Equity Buyback for CNY 100 million worth of its shares under the authorization approved on July 10, 2023.

Wuxi Zhenhua Auto Parts Co., Ltd. (SHSE:605319) commences share repurchases on July 18, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on July 10, 2023. As per the mandate, the company is authorized to repurchase its own shares for a total of CNY 100 million. The shares will be purchased at a price not exceeding CNY 22.51 per share.

The repurchased shares will be used for the implementation 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.