Summary by Moomoo AI
On July 19, 2024, CIFI Yongsheng Service ('the company') announced that it had conducted a series of share repurchases on the Hong Kong Stock Exchange from November 22, 2023 to July 3, 2024, under the share repurchase authorization of 2023 and 2024. A total of 20,666,000 shares were repurchased, of which 16,190,000 shares were repurchased under the share repurchase authorization of 2023, accounting for approximately 0.93% of the total issued share capital on the day; and 4,476,000 shares were repurchased under the share repurchase authorization of 2024, accounting for approximately 0.26% of the total issued share capital on the day. These shares were cancelled on July 19, 2024, resulting in a reduction of the company's total issued share capital to 1,728,554,000 shares. The board of directors believes that the cancellation of the repurchased shares will help increase the net asset value and/or earnings per share, and is in line with the overall interests of the company and shareholders.
