China Literature Group (00772.HK) plans to buy back company shares.

News from the Securities Times app, China Reading Group (00772.HK) announced that the board of directors has approved a plan to exercise the power under the general authorization granted by the company's shareholders to the board of directors at the annual general meeting of shareholders held on May 30, 2025 to repurchase company shares. According to this, shareholders approved the repurchase of no more than 10% of the company's issued shares on the day of the annual general meeting of shareholders in the market. Any repurchase of shares after the expiration of the existing repurchase authorization must be approved by shareholders at the next annual general meeting of shareholders of the company in 2026 before it can take effect. According to the repurchase authorization, the total number of shares that can be repurchased is not more than 102.2 million shares, and the maximum amount of funds proposed to be used for the share repurchase plan is 1.2 billion Hong Kong dollars.