Jerry Co., Ltd. announced that it intends to repurchase the company's shares for no less than 100 million yuan and no more than 200 million yuan. The repurchase price will not exceed 140 yuan/share. The use of the repurchase of shares is an equity incentive or employee stock ownership plan. Based on the maximum repurchase amount of 200 million yuan and the maximum repurchase price of 140 yuan/share, the estimated number of shares to be repurchased is 1,428,600 shares, accounting for 0.14% of the current company's total share capital; based on the lower repurchase amount of 100 million yuan, the estimated number of shares to be repurchased is 714,300 shares, accounting for about 0.07% of the current total share capital of the company. The capital for the share repurchase is its own capital and a special loan for share repurchase. The company has obtained a “Loan Commitment Letter” issued by Bank of China Co., Ltd. Yantai Branch, with a maximum amount of no more than RMB 200 million and no more than 90% of the maximum repurchase amount. The loan period is 3 years. The repurchase period is 12 months from the date the board of directors deliberates and approves the share repurchase plan.

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