Huafeng Co., Ltd. announced that it intends to repurchase the company's shares through centralized bidding transactions. The total repurchase capital shall not be less than RMB 15 million, not more than RMB 30 million, and the repurchase price shall not exceed RMB 51.25 per share. The purpose of repurchasing shares is for employee stock ownership plans or equity incentives. If the company fails to use the repurchased shares within three years after the share repurchase implementation results and share change announcements, the unused repurchased shares will be cancelled. Based on the maximum repurchase capital of 30 million yuan and the maximum repurchase price of 51.25 yuan/share, the estimated number of shares to be repurchased is about 585,400 shares, accounting for 0.25% of the company's total share capital; based on the lower limit of 15 million yuan, the estimated number of shares to be repurchased is about 292,700 shares, accounting for 0.12% of the company's total share capital. The repurchase period is no more than 12 months from the date the board of directors reviews and approves the repurchase plan. The funding source is the company's own capital and self-financing.

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