ZJJF plans to repurchase shares worth 20 million to 40 million yuan for incentives

On April 18, 2025, the board of directors of HiPhi approved a share repurchase plan, intending to repurchase shares through centralized bidding transactions, with funds of 20 million to 40 million yuan and a repurchase price not exceeding 12.42 yuan per share, for the employee stock ownership plan or equity incentive. The implementation period is 12 months from the date of the resolution, with an expected repurchase of 1.6103 million to 3.2206 million shares, accounting for 0.39% to 0.78% of the total share capital. This repurchase will not have a significant impact on the company's operations, finances, or affect its listing status and control. However, the plan carries risks of being unable to implement or needing to adjust terms due to stock prices exceeding the range or funds not being in place. The company has opened a dedicated repurchase account and received a loan commitment of 36 million yuan from China Merchants Bank