TAIMEI TECH (HKEX: 02576) has announced that its shareholders granted the board of directors a general mandate to repurchase the company's H-shares at the annual general meeting held on June 23, 2026.

Under this H-share repurchase authorization, the company may, from time to time, buy back its H-shares on the open market of the Stock Exchange, subject to market conditions and the company's actual circumstances.

The authorization permits the company to repurchase, during the relevant period, a total number of H-shares not exceeding 10% of the total issued H-shares of the company (excluding any treasury shares) on the date the repurchase mandate was passed.

In accordance with Listing Rule 10.06(2), the price paid for any H-shares repurchased must not be 5% or more above the average closing price of the H-shares for the five trading days immediately preceding the date of such repurchase.

Subject to the above restrictions, the board has decided that the repurchase price per H-share will not exceed HK$11. The specific repurchase price will be determined by the board based on market conditions and the company's actual situation.

The board believes that, depending on prevailing market conditions and funding arrangements, repurchasing H-shares could enhance the net asset value and/or earnings per share, bolster investor confidence in the company, and help maintain the company's reputation in the capital markets, thereby generating a positive impact.

Any such repurchases will only be undertaken when the board considers them to be in the overall interests of the company and its shareholders.