On June 20, Peijia Medical announced that the Board resolved to repurchase shares of the Company in the open market from time to time subject to market conditions, pursuant to the share repurchase mandate approved by the shareholders of the Company at the annual general meeting held on May 25, 2023 (the “2022 AGM”) (the “Share Repurchase Mandate”). Pursuant to the Share Repurchase Mandate, the Company is allowed to repurchase up to 10% of the aggregate number of shares in issue as at the 2022 AGM, i.e. up to 67,885,680 shares.