Dongguan Aohai Technology Co., Ltd. (SZSE:002993) commences a share repurchases on January 4, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on December 15, 2022. As per the mandate, the company is authorized to repurchase up to CNY 100 million worth of its shares. The shares will be purchased at a price not exceeding CNY 55 per share.

The repurchased shares will be used for the implementation of ESOP or equity incentive plan. If the company fails to use the shares for the aforementioned purposes within 3 years from the date of announcement, the unused portion of the repurchased shares shall be cancelled. 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.