Anhui Honglu Steel Construction(Group) CO., LTD (SZSE:002541) commences share repurchases on November 2, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on September 21, 2023. As per the mandate, the company is authorized to repurchase to repurchase CNY 100 million worth of its common shares. The shares will be repurchased at a price of not more than CNY 43.08 per share.

The purpose of the program is to improve the company's long-term incentive mechanism, fully mobilize the enthusiasm of the employees, and jointly promote the company's long-term development. The repurchased shares will be used for employee stock ownership plans or equity incentive plans, otherwise will be cancelled if the company fails to transfer them within the time limit stipulated by relevant laws and regulations. The program will be funded from company's own funds.

The program will be valid for 12 months.