The board of CARSGEN-B (02171) has given the green light to a new share repurchase initiative, as per a recent company announcement.

This move follows the granting of a share buyback mandate by shareholders at the Annual General Meeting held on May 22, 2026. The mandate authorizes the repurchase of up to 10% of the total issued shares, excluding treasury shares, as of the date the resolution was passed, equating to a maximum of approximately 57.096 million shares.

Under the approved 2026 share repurchase plan, the company intends to buy back no more than 30.1247 million shares on the open market. This figure represents about 5% of the total issued shares as of May 31, 2026. The plan is set to commence on June 25, 2026, and will remain in effect until the conclusion of the next Annual General Meeting.

The funds required for the share repurchases will be sourced from non-IPO proceeds, which include revenue from business operations, interest income, and other subsidies.

The company has stated that all repurchase activities will be conducted in strict compliance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and all other applicable laws and regulations that the company is subject to.