The board of HAITIAN FLAV (03288) has approved a proposal to repurchase the company's A-shares.

The decision, made during a board meeting, is driven by confidence in the company's robust operations and the sector's outlook, aiming to safeguard the collective interests of all shareholders and bolster investor confidence.

The initiative also seeks to support the company's long-term, stable, and healthy development while facilitating the achievement of its strategic objectives.

The buyback, to be funded with the company's own capital, will involve a total amount ranging from 1 billion to 2 billion yuan.

The repurchased shares are intended for purposes including capital reduction, future employee stock ownership plans, or equity incentive schemes.

The maximum repurchase price is set at 53 yuan per share, which does not exceed 150% of the average trading price of the company's shares over the 30 trading days prior to the board's approval of the plan.

The buyback program is scheduled to be completed within 12 months following shareholder approval of the proposal.