NEO-NEON (01868) plans to repurchase up to HK$10 million worth of shares.

NEO-NEON (01868) announced that the company will utilize up to 10 million Hong Kong dollars to repurchase its shares on the open market, and the repurchase will be implemented in phases by December 31, 2026. The company will allocate funds for the share repurchase plan from its substantial cash reserves. Once completed, the repurchased shares will be canceled, and the relevant documents will be submitted to regulatory authorities to complete the deregistration process. The Board of Directors believes that the current stock price of the company does not reflect its true value, and may not fully reflect the company's business prospects. The Board is confident in the company's long-term development and overall business performance, therefore implementing the share buyback plan will ultimately benefit the company and create value for shareholders. The company's existing financial resources are sufficient to implement the share repurchase plan while maintaining a strong financial position.