BAIWANG CO (ASX: 06657) has released a formal announcement regarding a share repurchase initiative.

The company's board of directors passed a resolution on June 26, 2026, authorizing the repurchase of its H-shares on the open market of The Stock Exchange of Hong Kong Limited.

The buybacks will be conducted periodically, subject to market conditions and the company's own circumstances, within the approved repurchase mandate.

The total value of shares to be repurchased must not exceed HK$105 million or its equivalent in foreign currency.

The actual number of H-shares bought back cannot surpass the maximum quantity permitted under the repurchase authorization.

The execution period for this share repurchase program is set to commence on June 26, 2026, and will conclude on or before June 25, 2027.

However, the program will not extend beyond the expiry date of the repurchase mandate itself.

All H-shares acquired through this program are intended to be cancelled or held as treasury shares.