Guangzhou Tinci Materials Technology (002709.SZ)'s controlling shareholder proposes to repurchase RMB50 million to RMB100 million of the company's shares.

Guangzhou Tinci Materials Technology (002709.SZ) announced that Mr. Xu Jinfu, the company's controlling shareholder and chairman, has proposed that the company repurchase a portion of its issued RMB ordinary shares (A shares) through the Shenzhen Stock Exchange trading system via centralized bidding, using its own funds or self-raised funds. The total amount of funds for this share repurchase shall be no less than RMB50 million (inclusive) and no more than RMB100 million (inclusive).