Futu News, September 20th: $CSPC PHARMA (01093.HK)$ Opening more than 6%, as of press time, up 8.74%, at HK$5.10, with a turnover of HK$0.563 billion.

In terms of news, CSPC Pharma announced that the board of directors has further resolved to repurchase a maximum of 5 billion Hong Kong dollars of shares in the market within 24 months from the date of this announcement according to the market conditions and as decided by the board of directors from time to time. The company will provide funds for the repurchase with its available cash reserves. The repurchased shares will be cancelled.

CSPC Pharma stated that the board of directors is full of confidence in the group's business development and prospects, and believes that the company's stock price is lower than its actual value. The implementation of the share repurchase plan aims to demonstrate the company's confidence in its business prospects and improve shareholder returns. The board of directors believes that the implementation of the share repurchase plan is in the overall best interests of the company and its shareholders.