CARSGEN-B (02171) proposes to repurchase no more than 5% of the company's shares.

CARSGEN-B (02171) Announces that, at the annual general meeting of the company's shareholders held on May 22, 2026, a resolution was passed granting the company authorization to repurchase shares, allowing for a maximum repurchase of up to 10% of the total number of issued shares (excluding any treasury shares) as of the date of the resolution, up to a maximum of 57.096 million shares of the company. The company is pleased to announce that the Board of Directors has approved a share repurchase plan, which will be in effect from June 25, 2026, until the end of the next annual general meeting of shareholders. Under the 2026 share buyback authorization, the company will repurchase up to 30.1247 million shares on the open market, equivalent to approximately 5% of the total number of issued shares as of May 31, 2026. The funds for the share repurchase will come from non-IPO fundraising, including business development income, interest income, and other subsidies. The company will exercise its power under the 2026 share repurchase authorization to carry out the share repurchase in accordance with the rules of the Hong Kong Stock Exchange and all applicable laws and regulations that the company must comply with.