CAOCAO INC (02643) has announced that its board of directors has approved a share repurchase plan with a maximum total value of HKD 200 million, to be implemented over a one-year period. The board will execute the share repurchase plan based on: (i) the general mandate granted by the company's shareholders via an ordinary resolution passed at the extraordinary general meeting held on May 11, 2025, authorizing the board to repurchase the company's shares, and (ii) the proposed general mandate to be granted by shareholders at the forthcoming annual general meeting scheduled for June 8, 2026, authorizing the board to repurchase shares (subject to shareholder approval at the annual general meeting). Under the 2025 repurchase mandate, the company is permitted to repurchase up to 10% of the total number of issued shares immediately following the completion of its global offering, which amounts to a maximum of 54,417,900 shares. The continuation of the share repurchase plan after the annual general meeting is contingent upon shareholders granting the 2026 repurchase mandate at that meeting. If granted, the maximum number of shares that may be repurchased under the 2026 repurchase mandate shall not exceed 10% of the total number of issued shares on the date the relevant resolution is passed at the annual general meeting (excluding any treasury shares, if applicable). The board has approved the share repurchase plan based on the company's strong confidence in its future prospects and firm belief in its value, aiming to further protect shareholder interests and enhance investor confidence. The company intends to repurchase its shares after fully considering its business outlook, operational performance, financial condition, future profitability, and the recent performance of its shares in the secondary market. The board believes that the current trading price of the shares does not adequately reflect their intrinsic value. The share repurchase plan demonstrates the board's confidence in the group's business prospects and outlook and is expected to create long-term value for shareholders. The company plans to use its available internal resources to fund the share repurchases.