Summary by Moomoo AI
Lijin Technology Group Limited (“Lijin Technologies”) repurchased a total of 12,000,000 shares on the market during the period from 18 December 2023 to 15 January 2024, pursuant to a mandate approved by its shareholders at the meeting on 6 September 2023, representing approximately 0.87% of the total issued shares. The share repurchase price ranges from HK$3.94 to HK$5.05 per share at a total cost of approximately HK$56,659,300. The funds are derived from the Company's existing cash reserves and free cash flow. The Board of Directors plans to write off the repurchased shares. It is expected that the total number of shares issued by the company will be reduced to 1,364,391,500 shares after the write-off. The Board stated that this move was in the best interests of the...Show More