Summary by Futu AI
CSPC Pharma Limited ("CSPC Pharma") announced on September 19, 2024, that following the disclosure of a HK$0.387 billion share repurchase in the mid-year performance announcement in 2024, the board of directors has approved a further repurchase of up to HK$1 billion worth of shares. Currently, approximately HK$0.773 billion has been used to repurchase 163,860,000 shares and cancel them. In addition, CSPC Pharma plans to conduct a share repurchase of up to HK$5 billion (excluding the aforementioned HK$1 billion) within the next 24 months, depending on market conditions. The repurchase plan will be in accordance with the authorization granted by the shareholders at the annual general meeting and will comply with listing rules and other relevant legal regulations. The company emphasizes that the implementation of share repurchases will be fully determined by the board of directors based on market conditions, and there is no guarantee of any specific time, quantity, or price.