ONEWO (02602) Plans to Repurchase Up to RMB500 Million Worth of H Shares

Stock News12-03 21:20

ONEWO (02602) announced that its board of directors has resolved to exercise the share repurchase authorization to buy back H shares on the open market at an appropriate time, with a maximum capital allocation of RMB500 million. The actual repurchase price will be determined based on factors including market conditions, the fluctuation of the company's H share market price relative to its issue price, and in compliance with the Hong Kong Stock Exchange Listing Rules and all applicable laws and regulations.

The board believes that share repurchases under current market conditions will demonstrate the company's confidence in its business development and prospects, ultimately benefiting the company and creating value for shareholders, aligning with the overall interests of both the company and its shareholders.

Under the share repurchase authorization, the company is permitted to repurchase up to 115,649,292 H shares, representing 10% of the total issued H shares (excluding treasury shares and repurchased but not yet canceled H shares) as of the date of the special resolution passed at the annual general meeting, while maintaining sufficient public float. The funds required for the share repurchase will be sourced from the company's internal financial resources.

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