Summary by Moomoo AI
SHUNYU OPTICAL TECHNOLOGY ANNOUNCED ON 8 APRIL 2024 THAT, PURSUANT TO THE GENERAL MANDATE GRANTED BY THE ANNUAL GENERAL MEETING ON 24 MAY 2023, THE COMPANY HAS PURCHASED A TOTAL OF 380,000 SHARES OF COMMON STOCK AT A MAXIMUM PRICE OF HK$38.85 PER SHARE, A MINIMUM OF HK$38.60 AND AN AVERAGE OF HK$38.7305 FOR A TOTAL PRICE OF APPROXIMATELY HK$14,717,590. The share repurchase represents approximately 0.035% of the total issued shares and it is planned to write off the repurchased shares. The Board stated that this move was in the overall best interests of the Company and its shareholders and reflected confidence in the Company's value and the long-term prospects of the industry. The share repurchase does not trigger compulsory acquisition liability, and the company will continue to meet the minimum public shareholding requirement of the Listing Rules. The decision to repurchase shares will be at the discretion of the market and management, and the Company does not guarantee the timing, quantity or price of further repurchases.