On October 15, Pietech Technology made a public announcement stating that its Chairman, Lv Guangquan, has put forward a proposal for the company to utilize its own capital to buy back a certain portion of its A-share shares via centralized bidding transactions. The proposed total amount for this share repurchase is set to be no less than RMB 200 million and no greater than RMB 300 million. The repurchased shares are earmarked for purposes such as employee equity incentive programs, employee stock ownership plans, or for the reduction of the company's registered capital.
