Summary by Moomoo AI
Medical Technology Co., Ltd. (the “Company”) announces that pursuant to the share repurchase authorization granted at the Annual General Meeting on September 28, 2023, it plans to repurchase a maximum of 105,285,814 shares of ordinary shares, not exceeding 10% of the total number of shares, when market conditions are right. The Board of Directors said the move was designed to protect investor interests, enhance investor confidence and reflect confidence in the future prospects of the company. The buyback will use the company's internal cash resources and will not affect the company's working capital. The Board considers that the proposed share repurchase is in the overall interests of the Company and its shareholders. As of the announcement date of 29 February 2024, no share repurchases have been made and the specific timing, quantity or price of the repurchases will be determined by the Board of Directors based on market conditions.