Suteng Juchuang (02498) plans to further repurchase shares not exceeding HK$300 million

Zhitong Finance App News, Suteng Juchuang (02498) announced that the board of directors has decided to further repurchase shares on the Stock Exchange's open market from time to time in accordance with share repurchase authorizations, with a total amount not exceeding HK$300 million (second phase share repurchase). The total number of shares repurchased during the initial phase and the second phase of share repurchase shall not exceed 10% of the total number of shares issued on the date of the annual general meeting of shareholders (excluding treasury shares (if any)).

The second-stage repurchase of shares may be carried out after the completion of the first phase of the share repurchase authorization until the expiration date of the share repurchase authorization or the date the board of directors approves the termination of the second-stage share repurchase or the withdrawal of the authorization granted to the authorized person in accordance with the relevant board resolution (whichever occurred earlier). The Company intends to use its own financial resources (other than proceeds raised from its global offering) to fund the proposed second-phase repurchase of shares.

The board of directors believes that the second-phase share repurchase shows the company's continued confidence in its own business expectations and prospects, and will ultimately benefit the company and create value for its shareholders. The board of directors believes that the company's current financial resources will enable it to implement the second phase of share repurchases while maintaining a sound financial position.