JD INDUSTRIALS (07618) has announced that its board of directors has approved a plan to repurchase up to $200 million worth of the company's shares on the open market over a 24-month period commencing from the approval date. Any share repurchase will be executed under the authority granted to the board by shareholders at the company's annual general meetings, permitting the buyback of up to 10% of the total issued shares (excluding any treasury shares) as of the date of the relevant AGM. This authority will expire upon the earliest of: (a) the conclusion of the company's next annual general meeting; (b) the expiry of the period mandated by the company's articles of association or any applicable law for holding the next AGM; or (c) the date shareholders revoke or modify the relevant ordinary resolution. For the period from May 12, 2026, until the date of the 2026 AGM, repurchases will be conducted under the authority granted by shareholders on November 27, 2025. For subsequent periods under the plan, repurchases will be subject to authorities granted at future AGMs, contingent upon shareholder approval and fulfillment of the general authorization conditions. The board intends to execute the plan within the 24-month period, provided it does 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 present and long-term business outlook and prospects, which 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 sound financial position. The company remains committed to providing high-quality products and services and believes this value proposition will be increasingly competitive in the current market environment.