China Hongqiao plans further share repurchases, citing undervaluation

China Hongqiao Group Limited announced its intention to continue on-market share repurchases, with the total amount not to exceed HKD2 billion. The company believes its current share price doesn't reflect its intrinsic value and future prospects. The move aims to safeguard shareholder value and enhance investor confidence. As of the date of the announcement, the company had already repurchased 62,260,000 ordinary shares since January 15, 2025, representing approximately 0.66% of the total issued shares, and will cancel all repurchased shares. Post-cancellation, the total number of issued shares will be 9,392,730,425, with controlling shareholders holding approximately 64.84% and the public float at approximately 35.07%. The company cautions that implementation is subject to market conditions and Board discretion.