According to the Zhitong Finance App, GCL Technology (03800) announced that on March 26, 2024, the company has repurchased an additional 18.112 million shares in accordance with the repurchase authorization, at a total cost of about HK$24 million (not including fees such as commissions). From the date of the annual general meeting of shareholders until the date of this announcement, the company has purchased a total of 156.612 million shares, accounting for about 0.58% of the total number of shares issued on the date of this announcement and about 0.58% of the total number of shares issued on the date of the annual shareholders' meeting.

According to the repurchase authorization, the company was authorized to repurchase up to 2,708 billion shares on the Hong Kong Stock Exchange market (that is, 10% of the total number of shares issued on the date of the annual shareholders' meeting). The board of directors may further exercise its powers under the repurchase authorization to repurchase shares in the open market at appropriate times. The company will carry out a share repurchase cancellation or dividend payment plan in accordance with all applicable regulations and rules.

The Board believes that the current market price of shares is undervalued in terms of the company's performance, asset value and business prospects, so it is an appropriate time to buy back shares to increase net asset value and/or profit per share. Considering the company's current financial situation, the board of directors believes it is appropriate to repurchase shares, and this move reflects the company's confidence in its long-term strategy and growth while maintaining sufficient financial resources. The board of directors also believes that the share repurchase and cancellation or dividend payment plan will serve the overall interests of the company and shareholders.