CMES accelerates share repurchase program amidst positive outlook

China Merchants Energy Shipping (CMES) [SSE:601872] announced it would accelerate its share repurchase program, approved by shareholders on November 1, 2024. The company has already repurchased 55,602,200 shares, representing 0.68% of its total share capital, at a total cost of CNY 36,1826,900, which is 81.68% of the maximum planned repurchase amount. The repurchase program, ranging from CNY 222,000,000 to CNY 443,000,000, aims to cancel the repurchased shares and reduce registered capital. CMES's decision to accelerate the program reflects its positive outlook on China's economic stability and strong confidence in its own development, with the Chairman recommending the move to enhance investor confidence and value. The company assures that it will adhere to regulatory guidelines and disclose updates as required, urging investors to be aware of potential risks.