Shenzhen S.C New Energy Technology Corporation (300724.SZ)'s controlling shareholder proposes to repurchase company shares for RMB300 million to RMB500 million.

Shenzhen S.C New Energy Technology Corporation (300724.SZ) announced that Mr. Zuo Guojun, one of the company's controlling shareholders, actual controllers, and chairman, has proposed that the company repurchase part of its shares through centralized bidding trading and use the repurchased shares for an employee stock ownership plan or equity incentive at an appropriate time in the future. The total funds for the share repurchase shall be no less than RMB300 million (inclusive) and no more than RMB500 million (inclusive).