Lingbao Gold (HKEX: 03330) has announced an adjustment to the maximum number of H-shares it intends to repurchase under its existing share buyback program.

The board has decided to modify the plan to further boost investor confidence and enhance the company's long-term incentive mechanisms.

Under the revised program, the maximum number of H-shares the company may repurchase from the open market has been increased from 6,910,900 shares to 30,000,000 shares. This represents an addition of 23,089,100 shares.

This adjusted maximum repurchase quantity represents approximately 2.17% of the company's total issued share capital and about 2.50% of the total issued H-shares as of the announcement date, inclusive of treasury shares and repurchased shares not yet cancelled.

All other terms and conditions of the buyback plan remain unchanged aside from the increase in the maximum repurchase volume.

The board believes the revised plan further demonstrates the company's recognition of its own intrinsic value and its confidence in the long-term development of its business. It is also seen as helping to deepen the group's long-term incentive structure, aligning with the group's current operational and financial standing, and serving the overall interests of the company and its shareholders.