PERENNIAL INT'L (00725) announced that between January 15, 2026, and January 23, 2026, the acquirer (a wholly-owned subsidiary of the Company) purchased a total of 80,000 shares of Alibaba on the open market.

These shares represent approximately 0.00042% of Alibaba's issued share capital, with a total consideration of about HK$13.472 million (excluding transaction costs), resulting in an average price of approximately HK$168.40 per Alibaba share.

Given that Alibaba is a leader in the information technology sector, an industry that is currently thriving and critically important for economic development, the Board anticipates an optimistic future outlook and development potential for Alibaba.

The Directors believe these transactions can enhance the performance of the Group's investment portfolio.

As the transactions were conducted on the open market, the Directors (including the independent non-executive Directors) consider the terms of the transactions to be fair and reasonable, based on normal commercial terms, and in the overall interests of the Company and its shareholders.