Company Expands Buyback Plan to US$400m, Allocates 50% Income for Returns
The Company used RMB34.4m to repurchase 748,552 shares on March 24, bringing year-to-date repurchases to nearly RMB450m. On March 18, its board boosted buyback authorization to US$400m through August 2027 and pledged at least 50% of adjusted net income annually for dividends and repurchases.
1. Recent Share Repurchases
On March 24 the Company repurchased 748,552 ordinary shares at a cost of RMB34.4 million, raising total buyback spend to nearly RMB450 million in 2026 year-to-date and demonstrating a focus on returning capital to shareholders.
2. Authorization Expansion
On March 18 the board amended the existing repurchase program, increasing the total authorization to repurchase up to US$400 million of shares or ADSs and extending the program’s term through August 28, 2027.
3. Dividend and Buyback Policy
The board also committed to allocate no less than 50% of the Company’s adjusted net income each year for dividends and share repurchases over the next three years, retaining flexibility to adjust based on financial performance, capital requirements and market conditions.