Summary by Moomoo AI
Sinotrans Limited (SINOTRANS) recently announced that it will carry out a share repurchase plan, which has been approved at the shareholders' meeting. According to the announcement, the company will repurchase up to 10% of the total number of issued shares, i.e. a maximum of approximately 0.729 billion shares. The repurchased shares will be conducted at a price not exceeding HK$7.43 per share. The company stated that the share repurchase will help enhance shareholder value and reflect the management's confidence in the company's future development prospects. The specific implementation time of the share repurchase plan has not been disclosed.