Guangxin Co., Ltd. announced that the company recently received a proposal from Chairman Jin Xiang to buy back the company's shares through centralized bidding transactions, with a total capital of not less than RMB 50 million and no more than RMB 100 million. The repurchase price is not higher than 150% of the average stock trading price in the 30 trading days before the board of directors passed the repurchase resolution. The details are subject to the plan reviewed and approved by the board of directors. Shares are to be repurchased for equity incentives and/or employee stock ownership plans. The period is 12 months from the date the board of directors reviews and approves the plan.

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