DUALITYBIO-B (09606) plans to repurchase up to $40 million worth of shares, and founder Zhu Zhongyuan plans to increase his shareholding by no more than $5 million.

DUALITYBIO-B (09606) announced that the board of directors intends to exercise the power under the general authorization granted by the company's shareholders at the annual general meeting on June 20, 2025, to repurchase company shares on the open market at an appropriate time. The share buyback plan is expected to use up to $40 million to repurchase shares. The company will use its internal funds to provide the funding for the share buyback and intends to hold the repurchased shares as treasury shares. The board believes that the current share price does not reflect its intrinsic value and the company's business prospects, making it a good opportunity for the company to repurchase shares. The share buyback plan reflects the board's and management team's confidence in the company's long-term strategy and growth. The board believes that the share buyback plan is in the overall best interests of the company and its shareholders. In addition, the company's founder, chairman of the board, executive director, and CEO, Dr. Zhu Zhongyuan, based on confidence in the future development prospects of the group and recognition of the long-term investment value of the company, intends to use his own funds to purchase company shares through the open market, with a total amount not exceeding $5 million, in compliance with listing rules and other applicable laws and regulations.