Binhai inv (02886.HK) announced that it intends to exercise the power under the general authorization granted to the board of directors by the company's shareholders at the annual general meeting, to repurchase up to approximately 0.135 billion ordinary shares of the company, which is 10% of the total number of shares issued on the day of the annual general meeting of the shareholders.

The board of directors will repurchase shares on the open market at its discretion, using up to HKD 20 million in funds for the proposed share buyback. The company plans to allocate its own financial resources for the proposed share buyback. The company will not repurchase shares that would have a significant adverse impact on its working capital. The board of directors will decide whether the shares repurchased under the proposed share buyback will be cancelled or held by the company as treasury shares, based on market conditions and the group's capital management needs at the time of repurchase.