Summary by Moomoo AI
PERONGYUNCHO (THE “COMPANY”) ANNOUNCED ON 25 MARCH 2024 THAT IT PLANS TO REPURCHASE SHARES OF THE COMPANY NOT EXCEEDING HK$250 MILLION ON THE PUBLIC MARKET IN ACCORDANCE WITH THE GENERAL SHARE REPURCHASE AUTHORIZATION APPROVED AT THE ANNUAL GENERAL MEETING ON 16 MAY 2023. The move is intended to demonstrate the company's confidence in its business prospects and believes that share buybacks will create value for the company and its shareholders. The Board of Directors stated that the company has sufficient financial resources to carry out share repurchases while maintaining a sound financial position. However, the specific timing, quantity or price of share repurchases will depend on market conditions and no share buyback can be guaranteed. Shareholders and potential investors should exercise caution.