Stock code: 688114 Stock abbreviation: MGI Announcement No.: 2024-068

Shenzhen MGI Technology Co., Ltd

Announcement on the implementation results of share repurchase and share changes

The board of directors and all directors of the company guarantee that there are no false records, misleading statements or material omissions in the content of this announcement, and assume legal responsibility for the authenticity, accuracy and completeness of its content.

Important Content Notes:

The repurchase plan was first disclosed on October 12, 2023, and was held by Shenzhen Huada Technology, the controlling shareholder of the company

The regiment is proposed

The implementation period of the repurchase plan will be 12 after the first meeting of the second board of directors of the company is deliberated and approved

month

The estimated repurchase amount is 25,000 yuan ~ 50,000 yuan

The upper limit of the repurchase price is 125.00 yuan per share

□ reduce the registered capital

Buyback Purpose √ for employee stock ownership plans or equity incentives

□ is used to convert the company's convertible bonds

□ to maintain the company's value and shareholders' rights

The actual number of shares repurchased was 5,397,700 shares

Actual number of repurchased shares to total share capital 1.2986%

The actual repurchase amount was 349.9522 million yuan

The actual repurchase price range is 39.13 yuan/share~85.99 yuan/share

1. Repurchase approval and repurchase plan content

On October 10, 2023, the company held the first meeting of the second board of directors and deliberated and approved the "About

Proposal on the plan to repurchase the company's shares by centralized bidding transaction", agreeing that the company will repurchase part of the company's issued RMB ordinary shares (A shares) through the Shanghai Stock Exchange trading system with its own funds. The repurchased shares will be used for employee stock ownership plans or equity incentives at an appropriate time in the future, with a repurchase price of no more than RMB125.00 per share (inclusive), and the total amount of repurchase funds shall not be less than RMB250 million (inclusive) and not more than RMB50,000 (inclusive), and the repurchase period shall be within 12 months from the date of deliberation and approval of the share repurchase plan by the board of directors of the Company.

For details, please refer to the company's announcement on Shanghai Securities on October 12, 2023 and October 19, 2023 respectively

The "Announcement on the Share Repurchase Plan by Centralized Auction Transaction" (Announcement No.: 2023-047) and the "Repurchase Report on the Repurchase of the Company's Shares by Centralized Auction Transaction" (Announcement No. 2023-049) disclosed on the website of the Exchange (www.sse.com.cn).

Second, the implementation of the repurchase

(1) The Company implemented the first repurchase on October 30, 2023, as detailed in October 2023

On March 31, the "Announcement on the First Repurchase of Shares by Centralized Auction Transaction" (Announcement No.: 2023-050) was disclosed on the website of the Shanghai Stock Exchange (www.sse.com.cn).

(2) On October 9, 2024, the company completed the repurchase and has actually repurchased 5,397,700 shares of the company.

Accounting for 1.2986% of the company's total share capital of 41,5637,624 shares, the lowest repurchase price is 39.13 yuan per share

The highest purchase price was 85.99 yuan/share, the average repurchase price was 64.83 yuan/share, and the total amount of funds used was 349.9522 million yuan.

(3) The number of shares, the repurchase price and the total amount of funds used by the company are in line with the repurchase plan deliberated and approved by the board of directors. There is no difference between the actual implementation of the repurchase plan and the original disclosed repurchase plan, and the company has completed the repurchase according to the disclosed plan.

(4) The funds used in this repurchase are the company's own funds, which will not have a significant impact on the company's operation, profitability and future development, and will not lead to a change in the company's control.

3. The trading of shares by relevant entities during the repurchase period

On September 27, 2023, the company disclosed the repurchase of shares for the first time, and the specific content is detailed in the company's account

On September 27, 2023, on the website of the Shanghai Stock Exchange (www.sse.com.cn), the "About Receiving the Company Control

Indicative announcement of shareholders proposing that the company repurchase shares (Announcement No.: 2023-043).

From the date of the company's first disclosure of the repurchase of shares to the disclosure period of this announcement, the company's directors, supervisors, senior managers, controlling shareholders, actual controllers and their persons acting in concert have not bought and sold the company's shares.

4. Statement of Changes in Shares

Before and after the share repurchase, the changes in the company's shares are as follows:

Before the repurchase After the repurchase is completed

Share class

Number of shares (shares) Proportion (%) Number of shares (shares) Proportion (%)

Limited shares outstanding 203,852,187 49.05 202,705,135 48.77

Unrestricted shares outstanding 211,785,437 50.95 212,932,489 51.23

Among them: repurchase special securities account 0 0.00 3,987,952 0.96

Total number of shares 415,637,624 100.00 415,637,624 100.00

Note 1: The Company's initial public offering of 1,147,052 restricted shares of some strategic placement shares was listed and circulated on September 9, 2024.

For details, please refer to the "First Order" disclosed by the Company on the website of the Shanghai Stock Exchange (www.sse.com.cn) on August 31, 2024

Indicative announcement on the listing and circulation of some strategic placement restricted shares in the secondary public offering (Announcement No.: 2024-057).

Note 2: On October 8, 2024, the Company received the Securities Transfer Registration issued by China Securities Depository and Clearing Corporation Limited

Confirmation of the "Shenzhen MGI Technology Co., Ltd. Repurchase Special Securities Account" (B886108457).

Some of the 1,409,706 shares of the company have been transferred to "Shenzhen MGI Technology Co., Ltd." on September 30, 2024 on a non-trading basis

Company - 2024 Employee Stock Ownership Plan" (B886674563), the transfer price is 26.15 yuan per share. For details, please refer to the company

On October 9, 2024, on the website of the Shanghai Stock Exchange (www.sse.com.cn), the "About the 2024 Employee Stock Ownership Plan" was completed

Announcement on the transfer of non-transaction accounts (Announcement No.: 2024-067). The remaining 3,987,952 repurchased shares were deposited with the Company

Dedicated securities account.

5. Arrangements for the disposal of repurchased shares

The repurchased shares are intended to be used for employee stock ownership plans or equity incentives, and the repurchased shares are deposited in the company's shares

During the period of repurchase of the special securities account, it does not enjoy the voting rights of the general meeting of shareholders, profit distribution, provident fund conversion to share capital,

rights such as allotment and pledge, and shall be transferred within three years after the announcement of the implementation results of the share repurchase and the change of shares.

If the company fails to transfer the repurchased shares within three years after the implementation results of the share repurchase and the announcement of the share change

Upon completion, the procedure for reducing the registered capital will be carried out in accordance with the law, and the untransferred shares will be cancelled. Subsequently, the company will:

Use the repurchased shares that have not been cancelled in accordance with the disclosed purposes, and perform the decision-making procedures and information disclosure obligations in accordance with the regulations

Business. Please pay attention to the investment risks.

The announcement is hereby made.

Board of Directors of MGI Technology Co., Ltd

October 11, 2024