ONEWO (02602) plans to repurchase up to 500 million Hong Kong dollars worth of H shares.

ONEWO(02602) announced that the Board has decided to exercise the authorization for share repurchase on the open market for H shares at an appropriate time, with a maximum funding limit of RMB 500 million. The actual repurchase price will be based on factors such as market conditions, fluctuations in the current market price of the company's H shares compared to the issue price of the company's H shares, in accordance with the rules of the Hong Kong Stock Exchange and all applicable laws and regulations that the company must comply with. The Board believes that repurchasing shares in the current market conditions will demonstrate the company's confidence in its business development and prospects, ultimately benefiting the company and creating value for shareholders, in line with the overall interests of the company and its shareholders. Under the share repurchase authorization, the company is allowed to repurchase up to 115,649,292 H shares, representing 10% of the total number of H shares issued by the company on the day of the annual general meeting through a special resolution (excluding treasury shares and H shares repurchased but not yet cancelled), while maintaining a sufficient level of public shareholding. The funds required for this share repurchase will be provided from the company's own financial resources.