TOPNC Board Proposes H-Share Repurchase Mandate of Up to 10% Ahead of 2027 AGM

Bulletin Express06-29

Shanghai Top Numerical Control Technology Co., Ltd. (TOPNC) announced that its board has approved seeking shareholder authorization for an H-share repurchase mandate covering up to 10% of the company’s issued H-share capital (excluding any treasury shares).

The mandate, to be voted on at an upcoming extraordinary general meeting, would permit buybacks funded by the company’s own resources during the “Relevant Period,” defined as the span from the date of shareholder approval until the earliest of: 1) the conclusion of TOPNC’s 2027 annual general meeting, or 2) any earlier revocation or variation of the mandate by shareholders.

Repurchased shares may be cancelled or retained as treasury stock, subject to market conditions and future capital-management considerations.

Management cited confidence in TOPNC’s operational performance and long-term prospects, noting that the current market price does not fully reflect the company’s fundamentals. A detailed circular and formal EGM notice will be dispatched to shareholders in accordance with Hong Kong Listing Rules.

Chairman and Executive Director Dr. Wang Yuhan signed the voluntary announcement dated 29 June 2026.

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