QCIOT(SH:688528) Shang Hai Zheng Quan Bao·2025-11-03 18:29Core Viewpoint - The company has initiated a share repurchase program and has begun to reduce the repurchased shares through a concentrated bidding process, aiming to maintain company value and shareholder rights [1][2]. Summary by Sections Share Repurchase Overview - The company repurchased a total of 10,436,909 shares from February 22, 2024, to May 14, 2024, to maintain company value and shareholder rights. The repurchased shares will be sold within three years after the announcement of the repurchase results. If not sold within this period, the unsold repurchased shares will be canceled. As of the announcement date, the company holds 8,756,909 shares in the repurchase account [1]. Progress of the Reduction Plan - On September 10, 2025, the company announced a plan to reduce up to 1,680,000 repurchased shares, representing 1% of the total share capital, within three months after the announcement. As of October 31, 2025, the company has not yet reduced the shares. The reduction plan is consistent with previous disclosures and does not involve any major corporate actions that could affect the share capital [2]. Financial Impact of the Reduction - The funds recovered from the share reduction will be included in the company's capital reserve and are not expected to have a significant impact on the company's operations, finances, or future development. This action is intended to supplement the liquidity needed for daily operations [2].