AXERA (00600) has announced that it has authorized the independent professional trustee appointed to manage its H share award scheme to purchase the company's H shares on the market at prevailing market prices, in accordance with the rules of the award scheme and the trust deed.
The H shares so purchased will be held by the trustee in trust for the benefit of grantees and used for the grant of award shares under the award scheme.
The board of directors believes that the current market price of the H shares is undervalued and does not fully reflect the group's long-term value and growth potential as a leading AI system-on-chip (SoC) provider. This represents a good opportunity to acquire H shares for future awards under the scheme.
The company expressed full confidence in the group's long-term development prospects. The board believes that on-market purchases of H shares will further support the granting of award shares under the scheme, align the interests of grantees with those of the company and shareholders as a whole, and incentivize them to contribute to the group's sustainable long-term development, thereby providing sustained and strong momentum for the group to maintain its leading position in the AI inference SoC sector.
As of the date of this announcement, the trustee has purchased a total of 2.5192 million H shares on the market.
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