LX Technology announces on-market share buyback of up to HK$200.00 million through 2026

Bulletin Express
Apr 02

LX Technology Group Limited has unveiled plans to repurchase up to HK$200.00 million of its shares on the open market between 2 April 2026 and 31 December 2026.

Key terms • Size and funding: The buyback will be financed entirely by internal resources. Management stated that purchases will not proceed if they would materially impair the Group’s working-capital position.

• Pricing limit: Any repurchase price may not exceed 5% above the average closing price of the shares over the five preceding trading days, in line with Hong Kong Listing Rules.

• Mandate coverage: Transactions will be executed under the share buyback mandate approved at the 6 June 2025 AGM. Buybacks after the 2026 AGM will require renewal of the mandate at the June 2026 meeting.

• Treatment of shares: Repurchased shares will either be cancelled or held as treasury stock, with the decision based on prevailing market conditions and capital considerations at the time of purchase.

• Regulatory compliance: The Board will ensure adherence to Cayman Islands Companies Act, Hong Kong Listing Rules, and Takeovers and Share Buy-backs Codes, including maintaining the minimum public float and avoiding any mandatory general offer trigger.

Rationale The Board believes the current share price does not fully reflect LX Technology’s underlying value and long-term prospects. Management expects the programme to optimise capital structure and enhance net asset value per share.

Status and caution No shares have been repurchased under the existing mandate to date. Execution, including timing, quantity and pricing, remains at the Board’s discretion and is subject to market conditions; investors are advised to exercise caution when dealing in the shares.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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