Lianqi Technology's Korean Office Searched by Prosecutors

Lianqi Technology (688008.SH) announced that on July 15, the Fair Trade Investigation Department of the Seoul Central District Prosecutors' Office conducted a site search of its Korean office to investigate potential violations of antitrust regulations. The company stated that it will fully cooperate with the prosecutors' investigation. As of the announcement date, neither the company nor its directors and employees have been accused of any wrongdoing, and operations are normal. Lianqi Technology cautioned that the investigation is still in its early stages, making it impossible to predict its duration and outcome, which may affect market sentiment and the company's reputation. However, there is currently no evidence to suggest a substantial impact on its financial condition or operations. Additionally, Lianqi Technology proposed to use its own funds to repurchase a portion of its A-shares, with a total repurchase amount not less than 300 million yuan and not exceeding 600 million yuan, and the repurchase period is within three months after the board's approval.

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