On July 4th, Guolonghui announced that according to the share repurchase authorization, as of June 17, 2024, the company has repurchased a cumulative total of 15,833,000 shares, accounting for 2.25% of the total number of issued shares. The repurchased shares were all canceled on July 3, 2024, involving approximately HKD 47.7082 million, with a repurchase price per share of approximately HKD 2.72 to 3.41. The funds used by the company for share repurchases come from its own financial resources, not from the proceeds of the shares listed on the Hong Kong Stock Exchange.
The board of directors believes that the current trading price of the shares does not reflect their intrinsic value, and the share repurchase plan will enhance the value of the shares, thereby increasing returns for shareholders. On the premise of complying with regulatory requirements and from the perspective of maintaining the company's market cap, the company may further repurchase shares.