Fosun International (00656) plans to repurchase shares not exceeding HKD 1 billion

CITIC Financial APP News, Fosun International (00656) announced that from January 1, 2022, to the date of this announcement, the company has continuously repurchased shares in the open market. As of the date of this announcement: the total number of shares repurchased is approximately 259 million shares, with a total repurchase amount of about HKD 1.19 billion, representing approximately 3.17% of the total issued shares as of the announcement date; all share repurchases were conducted under valid general mandates granted by shareholders at the time and funded by internal resources of the company.

The company believes that the current share price level does not fully reflect the company’s long-term value. Based on the judgment of the company’s long-term development prospects and prudent consideration of shareholders’ interests, the company will, within the scope of legal and regulatory requirements, carefully and orderly advance its share repurchase plan. The company plans to repurchase shares in the open market from the release of the 2025 annual results announcement until the expiration of the repurchase authorization, which will be at the 2026 Annual General Meeting, with a total repurchase amount not exceeding HKD 1 billion.

The above repurchases will be conducted in accordance with relevant laws and regulations and funded by internal resources. The specific timing, price range, and execution pace of the repurchases will be determined prudently by the Board of Directors based on market conditions and the company’s capital management needs. The company believes that executing the repurchase at the current valuation level is in the best interests of the company and its shareholders.