Suzhou Institute of Building Science Group Co.,Ltd commences an Equity Buyback for CNY 17 million worth of its shares, under the authorization approved on May 10, 2024.

Suzhou Institute of Building Science Group Co.,Ltd (SHSE:603183) commences share repurchases on June 18, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 10, 2024. As per the mandate, the company is authorized to repurchase its own shares for a total of CNY 17 million. The shares will be purchased at a price not exceeding CNY 5.25 per share.

The repurchased shares will be used for the implementation of ESOP or equity incentive plan, or to convert company convertible bonds, or will be cancelled to reduce the registered capital, or to maintain company value and shareholder rights. The program will be valid for 12 months from the date of the shareholder's meeting.