Summary by Moomoo AI
BYADI CO., LTD. ANNOUNCED THAT IT WILL IMPLEMENT A SHARE REPURCHASE PROGRAM AIMED AT REDUCING REGISTERED CAPITAL IN ORDER TO MAINTAIN SHAREHOLDERS' INTERESTS, STRENGTHEN INVESTOR CONFIDENCE, AND STABILIZE AND ENHANCE THE VALUE OF THE COMPANY. The repurchase program is expected to use RMB4 billion of equity capital, with a repurchase price of not more than RMB270 per share, and a share buyback of not less than 1,481,481 shares, representing approximately 0.05% of the total issued share capital of the company. The repurchase period is 12 months and will be conducted through centralized bidding or other methods approved by China Securities and Exchange Commission. The Plan was approved by the Board of Directors and General Meetings on 6 March 2024 and 19 April 2024. The Company emphasizes that the repurchase will not have a material adverse effect on the Company's operations, finances, R&D, debt performance and future development and will fulfill its obligation to disclose information in a timely manner during the repurchase.