Piesat Information Technology Co., Ltd. authorizes a Buyback Plan.

Piesat Information Technology Co Ltd, formerly Beijing Piesat Information Technology Co Ltd, is a China-based company mainly engaged in the provision of remote sensing and Beidou navigation satellite application services. The Company's system design and development business mainly includes the development of remote sensing industry application systems and Beidou industry application systems and system consulting design business. The data analysis application service business mainly includes data processing services, monitoring and analysis services, and information mining services. The self-owned software sales business mainly includes the sales of remote sensing image processing basic software platform (PIE), Beidou map navigation basic software platform (PIE-Map) and others. The Company mainly conducts its businesses in domestic market.