Hongxin Electronics announced that Li Qiang, chairman of the company, proposed that the company buy back some A shares through centralized bidding transactions, and that the repurchased shares will be used for employee stock ownership plans or equity incentives. The total repurchase capital is not less than 200 million yuan and no more than 400 million yuan. The upper limit of the repurchase price is not higher than 150% of the average trading price of the company's shares on the 30 trading days before the board of directors deliberates and approves the share repurchase plan. The repurchase period is within 12 months from the date the board of directors reviews and approves the repurchase plan, and the funding source is own or self-raised funds. Li Qiang promised that the board of directors would vote in favor of the buyback bill. There is still uncertainty about this repurchase matter.

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