Zhejiang Taifu Pump Co.,Ltd commences an Equity Buyback Plan for CNY 100 million worth of its shares, under the authorization approved on February 23, 2024.

Zhejiang Taifu Pump Co.,Ltd (SZSE:300992) commences share repurchases on March 1, 2024, under the program mandated by shareholders in the Extraordinary General Meeting held on February 23, 2024. As per the mandate, the company is authorized to repurchase up to CNY 100 million worth of its shares. The shares will be repurchased at no more than 20 per share.

The purpose of the program is to use the repurchased shares for equity incentives or an employee stock ownership plan. The program will be funded from company's own funds. The authorization will be valid for 12 months.