Guangdong Lvtong New Energy Electric Vehicle Technology Co., LTD commences an Equity Buyback plan for CNY 150 million worth of its shares, under the authorization approved on March 11, 2024.

Guangdong Lvtong New Energy Electric Vehicle Technology Co., LTD (SZSE:301322) commences share repurchases on March 18, 2024, under the program mandated by shareholders at the Extraordinary General Meeting held on March 11, 2024. As per the mandate, the company will repurchase up to CNY 150 million worth of its shares. The shares will be repurchased at no more than CNY 52 per share.

The purpose of the program is to reduce the share capital of the company. The repurchased shares will be cancelled. The program will be funded from the part of the excess funds obtained from the company's initial public offering of RMB ordinary shares.

The authorization will be valid for 12 months.