Summary by Moomoo AI
The board of directors was appointed on 23 February 2024 by means of a plan to repurchase a portion of A shares in a centralized tender transaction with a total repurchase capital of not less than RMB 30 billion and not more than RMB 60 billion, with a maximum repurchase price of RMB 30 per share. The repurchase program will be used for employee shareholding plans or equity incentives with a repurchase period of 6 months. As of 31 March 2024, the Company has not commenced share repurchases. The Company will choose the timing of the repurchase based on market conditions and is aware that if the share price exceeds the upper limit of the repurchase plan, there may be a risk that the repurchase plan cannot be implemented.