On January 9, Gelonghui (300816.SZ) announced an announcement on the plan to repurchase the company's shares. The company plans to use its own capital not less than RMB 15 million (inclusive) and no more than RMB 30 million (inclusive) to make the repurchase. The price range for repurchasing shares does not exceed 37.48 yuan/share (inclusive).

Based on the upper limit of the proposed repurchase price of 37.48 yuan/share and the lower limit of the total repurchase capital of 15 million yuan (inclusive), the estimated number of shares to be repurchased is 400,213 shares, accounting for 0.50% of the company's current total share capital; based on the maximum proposed repurchase price of 37.48 yuan/share and the maximum total repurchase capital of 30 million yuan (inclusive), the estimated number of shares to be repurchased is 800,426 shares, accounting for approximately 1.00% of the company's current total share capital.

The implementation period for share repurchase is 12 months from the date the board of directors of the company reviews and approves the repurchase plan. The repurchased shares will be used for share incentives or employee stock ownership plans. If the company fails to use the repurchased shares within three years after the implementation results of this share repurchase and the share change announcement, the shares that have not been used will be cancelled in accordance with law.