Summary by Moomoo AI
China Mengniu Dairy Limited ("Mengniu Dairy") announced that it will implement a share repurchase plan to create value for shareholders and provide stable and sustainable returns. The plan was approved by shareholders at the annual general meeting held on June 12, 2024, authorizing the company to repurchase up to 2 billion Hong Kong dollars of company shares on the Stock Exchange of Hong Kong Limited within the next twelve months. The board of directors expects this move to increase earnings per share and stated that the company has sufficient financial resources to conduct share repurchases while maintaining a strong financial position. The board of directors has full authority to implement the share repurchase plan and will comply with all applicable laws, regulations, and regulatory requirements. Shareholders and potential investors should exercise caution. This announcement was issued by the Company Secretary, Guo Weichang, on August 28, 2024.
