Shenzhen Kinwong Electronic (03228) Chairman Proposes Share Repurchase of A-Shares Worth RMB 50 Million to RMB 100 Million

Shenzhen Kinwong Electronic (03228) announced that, based on confidence in the company's sustainable future development and recognition of the company's value, in order to enhance investor confidence, safeguard the interests of the broad investor base, and further establish and improve the company's long-term incentive mechanism to fully motivate employees, and taking into account the company's current operating conditions, business development prospects, financial position, and future capital use plans, Mr. Liu Shaobai, Chairman of the company, has proposed that the company repurchase a portion of its shares through centralized bidding transactions. The repurchase amount shall be no less than RMB 50 million and no more than RMB 100 million. The repurchased shares will be used in due course for equity incentives and/or employee stock ownership plans.