Focuslight Technologies Inc (SHSE:688167) commences share repurchases on November 10, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on September 11, 2023. As per the mandate, the company is authorized to repurchase its CNY 50.40 million worth of its common shares. The shares will be purchased at a price not exceeding CNY 120 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 and excess funds obtained from the issuance of ordinary share.

The program will be valid for 12 months.