Beacon Medical-B (02170) plans to spend no more than 5 million yuan to buy back H shares

According to Zhitong Finance App News, Beacon Medical-B (02170) issued an announcement. The board of directors is pleased to announce that it intends to exercise its powers in accordance with the repurchase authorization, and that the Company will repurchase H shares in the open market from time to time in accordance with market conditions and the terms of the repurchase authorization, for an amount not exceeding RMB 5 million (share repurchase plan).

The share repurchase plan is based on the management team's confidence, the company's current operating growth prospects and financial situation, and takes into account recent market conditions. The Company intends to fund the share repurchase plan using its own financial resources rather than proceeds from the Hong Kong Stock Exchange Limited's H share listing. The board of directors believes that the current transaction price of H shares undervalues the company's intrinsic value and business prospects, and that the share repurchase plan will increase shareholder value.

The share repurchase plan reflects the board's confidence in the long-term development of the company and will only be implemented when the board of directors deems appropriate and in line with the overall interests of the company and shareholders. The Company will exercise repurchase authorization in accordance with the Articles of Association, listing rules, corporate acquisitions, mergers and share repurchase rules, and all laws and regulations applicable to the Company.