According to Zhitong Finance App, Conoa-B (02162) issued an announcement. It has authorized the Company to direct an independent professional trustee to manage the 2022 Restricted Share Unit Plan) to use approximately HK$100 million to purchase the Company's common shares on the market at the current market price in accordance with the 2022 Restricted Share Unit Plan rules and trust deeds. Shares so purchased will be held in trust for the benefit of the trustee as the grantor and used to award share awards under the 2022 Restricted Share Units Plan.

The Board believes that the shares are extremely undervalued at their current market price and do not reflect the Group's long-term value and growth potential. This provides a good time to buy shares for future awards under the 2022 Restricted Share Units Program. The Company remains confident in the long-term development of the Group. The Board believes that the purchase of shares on the market will further support the award of rewards under the 2022 Restricted Share Unit Plan, align the interests of the grantees with the overall interests of the Company and its shareholders, and motivate them to contribute to the long-term sustainable development of the Group, thereby providing continued strong impetus for the Group to maintain its leading position in the industry.

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