JD LOGISTICS (02618) has announced that its board of directors has authorized and approved a plan to repurchase up to $1.2 billion worth of the company's shares in the open market over a period of 48 months from the approval date. Any share repurchase will be executed under the repurchase mandate granted or to be granted to the board by shareholders at the company's annual general meetings. This authority allows for the repurchase of shares not exceeding 10% of the total issued shares (excluding any treasury shares) as of the date of the relevant annual meeting. The authorization will expire upon the earliest occurrence of: (a) the conclusion of the company's next annual general meeting; (b) the expiration of the period by which the company's memorandum and articles of association or any applicable laws require the next annual general meeting to be held; or (c) the date on which shareholders revoke or modify the authorization by ordinary resolution.

For the period from May 12, 2026, until the date of the company's upcoming annual general meeting to be held in 2026, repurchases will be conducted under the share repurchase mandate granted by shareholders on June 20, 2025. For subsequent periods under the plan, repurchases will be carried out under share repurchase mandates granted by shareholders at annual general meetings held from time to time, subject to shareholder approval and the fulfillment of the general authorization conditions mentioned above.

The board intends to execute the plan within the 48-month period, but only in a manner that would not trigger a mandatory general offer under Rule 26 of the Code on Takeovers and Mergers and Share Buy-backs. The board believes that proceeding with the proposed share repurchase under current circumstances demonstrates the company's confidence in its current and long-term business outlook and prospects. It is expected that this will ultimately benefit the company and create value for shareholders. The board is confident that the company's current financial resources will enable it to implement the proposed share repurchase while maintaining a solid financial position. The company will continue to provide high-quality products and services and believes that such a value proposition will be more competitive under current market conditions.