Morimatsu International (02155) proposes to repurchase shares up to HK$50 million

According to the Zhitong Finance App, Morimatsu International (02155) issued an announcement. According to the repurchase authorization, the company was authorized to repurchase up to 127 million shares from the Hong Kong Stock Exchange Limited (SEHK), accounting for 10% of the total number of shares issued on the day of the annual shareholders' meeting (excluding treasury shares). The Board of Directors of the Company hereby announces that on August 10, 2026, it has decided to use a repurchase authorization to repurchase shares on the open market for a total amount of not more than HK$50 million from time to time (share repurchase is recommended). The Company will use internal cash resources to fund proposed share repurchases.

The board of directors believes that the current transaction price of shares does not reflect their intrinsic value or the company's actual business prospects, and that the proposed share repurchase also reflects the company's full confidence in its own business development prospects. The Board also believes that the Company's current financial resources will enable it to implement the proposed share repurchases while maintaining a sound financial position.