Zhejiang Southeast Network Framework Co., Ltd. (hereinafter referred to as "the Company") and all members of the Board of Directors guarantee that the content of the information disclosure is true, accurate, and complete, without false records, misleading statements, or major omissions.
Important Content Reminder:
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Main Content of the Repurchase Plan
The Company intends to use its own funds or raised funds to repurchase shares via centralized bidding trading. The repurchased shares will be used for the implementation of an employee stock ownership plan or equity incentive in the future. The total amount for the repurchase will not be less than RMB 100 million and not exceed RMB 200 million (inclusive); the repurchase price will not exceed (inclusive) RMB 9.32 per share, which is not higher than 150% of the average trading price of the Company's shares in the 30 trading days prior to the Board's approval of the repurchase resolution. Based on the upper and lower limits of the repurchase funds and the maximum repurchase price of RMB 9.32 per share, the estimated number of shares to be repurchased is approximately 10.73 million to 21.46 million shares, accounting for about 0.96% to 1.92% of the Company's current total share capital. The specific number of repurchased shares will be based on the actual number repurchased upon completion of the repurchase or expiration of the period. The implementation period for the repurchase of shares is within 12 months from the date of the Board's approval of the repurchase plan. -
Whether Relevant Shareholders Have Reduction Plans:
As of the date of this announcement, the Company's directors, senior management, controlling shareholders, actual controllers, and shareholders holding more than 5% of shares and their concerted actions do not have clear reduction plans during the repurchase period. If the aforementioned parties plan to implement share reduction plans in the future, the Company will fulfill its information disclosure obligations in a timely manner according to relevant regulations. -
Risk Warning:
(1) During the repurchase period, if the Company's stock price continues to exceed the upper limit disclosed in the repurchase plan, or if the funds required for the repurchase are not in place in time, it may lead to the risk that the repurchase plan cannot be implemented as planned.
(2) If significant events occur that have a major impact on the Company's stock trading price, or if there are significant changes in the Company's production, operation, financial situation, or external objective conditions, or other matters that lead the Board to decide to terminate the repurchase plan, there may be risks that the repurchase plan cannot be smoothly implemented or that it may be changed or terminated according to relevant regulations.
(3) The repurchased shares will be used for the employee stock ownership plan or equity incentive plan, and there may be risks that the repurchased shares cannot be fully granted due to reasons such as the employee stock ownership plan or equity incentive plan not being approved by the Company's Board or shareholders' meeting, or the incentive objects waiving subscription. If such situations occur, there may be risks of the repurchased but ungranted shares being canceled.
(4) If regulatory authorities issue repurchase implementation rules or other normative documents, it may lead to the need to adjust the relevant terms of the repurchase during the implementation process according to new regulatory requirements.
According to the "Company Law," "Securities Law," "Rules on Share Repurchase by Listed Companies," "Self-Regulatory Guidelines No. 9 for Listed Companies on the Shenzhen Stock Exchange - Share Repurchase," and other relevant laws, regulations, normative documents, and the Company's Articles of Association, the Company held the 30th meeting of the 8th Board of Directors on March 10, 2026, and approved the proposal on the share repurchase plan via centralized bidding trading. The repurchase plan can be implemented after a resolution is passed by more than two-thirds of the directors present at the Board meeting, without the need to submit it to the shareholders' meeting for approval. The relevant matters are hereby announced as follows: