Glonghui November 24 | Yingtomi Technology-B (02251.HK) announced that on November 24, 2023, the board of directors resolved to recommend the grant of repurchase authorization for shareholders to approve at the special shareholders' meeting. After shareholders have approved the repurchase authorization at the special shareholders' meeting and the relevant category of shareholders' meetings, and in accordance with the terms therein, the company may obtain permission to repurchase up to 5,341,700 H shares, accounting for 10% of the total face value of H shares issued on the day the resolution approving the repurchase authorization was passed. It is assumed that the company will not issue shares from the date of this announcement and until the date of the special shareholders' meeting.
The directors believe that the repurchase authorization is in the overall interest of the company and shareholders. Depending on current market conditions and funding arrangements, exercising a repurchase authorization may increase the company's net asset value per share.