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Correction: Zhongji Innolight's Chairman Proposes Share Buyback of Up to 8 Billion Yuan

By

(Corrects share buyback size in headline)

Zhongji Innolight's (HKG:3308, SHE:300308) chairman and president, Liu Sheng, proposed to repurchase shares worth between 4 billion yuan and 8 billion yuan, according to a Shenzhen bourse filing on Wednesday.

The shares will be bought back within 12 months after the board of directors' approval.

The repurchased shares will be used for the company's equity incentive plans or employee stock ownership plans.

The optical interconnect service provider's Shenzhen shares rose 2%.

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