Summary by Moomoo AI
SHUNYU OPTICAL TECHNOLOGY (GROUP) CO., LTD. ANNOUNCED ON 22 MARCH 2024 THAT IT HAS PURCHASED A TOTAL OF 440,000 SHARES OF ORDINARY SHARES IN THE MARKET PURSUANT TO THE GENERAL MANDATE GRANTED AT THE ANNUAL MEETING OF SHAREHOLDERS ON 24 MAY 2023. The total repurchase price of the shares was approximately HK$19,341,210, with a repurchase price range of up to HK$44.40 per share, a minimum of HK$43.20 and an average of HK$43.9573. The repurchased shares represent approximately 0.04% of the total issued shares and will be subsequently written off. The Board considers this move to be in the overall best interests of the Company and its shareholders and reflects confidence in the Company's value and the long-term prospects of the industry. The share repurchase complies with relevant laws and regulations and listing rules, and the Board of Directors does not wish to repurchase shares to trigger a mandatory takeover proposal, while ensuring compliance with minimum public shareholding requirements.