On March 18 the board amended the existing repurchase program, increasing the total authorization to repurchase up to US$400 million of shares or ADSs and extending the program’s term through August 28, 2027. On March 24 the Company repurchased 748,552 ordinary shares at a cost of RMB34.4 million, raising total buyback spend to nearly RMB450 million in 2026 year-to-date and demonstrating a focus on returning capital to shareholders. The board also committed to allocate no less than 50% of the Company’s adjusted net income each year for dividends and share repurchases over the next three years, retaining flexibility to adjust based on financial performance, capital requirements and market conditions.