Guangdong Songyang Recycle Resources announced that the company plans to use its own funds to repurchase some of its shares through centralized competitive bidding trading. The repurchase amount is not less than RMB 15 million and not more than RMB 30 million, and the repurchase price does not exceed RMB 20 per share. The repurchased shares will be used for the implementation of the employee shareholding plan or stock-based incentive plan in the later stage. The repurchase period is within 12 months from the date of approval by the board of directors. This repurchase plan has been approved by the board of directors and does not need to be submitted to the shareholders' meeting for approval.