Xiaomi Group spent nearly 500 million Hong Kong dollars to implement repurchase

Xiaomi Group announced that the company repurchased 19.308 million shares on March 31 at a cost of 499 million Hong Kong dollars (approximately 422 million yuan), and the repurchase price range was 25.50 Hong Kong dollars per share. 26.20 Hong Kong dollars per share.

Xiaomi Group issued an announcement on March 11, announcing that the board of directors has decided to exercise the share repurchase authorization. After the ban on trading ends (that is, March 24), Xiaomi will start repurchasing in the open market from time to time. Shares, the repurchase limit is 10 billion Hong Kong dollars (approximately 8.36 billion yuan).

Previously, on June 23, 2020, the Xiaomi shareholders meeting passed a resolution granting directors a general mandate to repurchase shares, the number not exceeding 10% of the total number of shares issued on June 23, 2020.

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On March 11, 2021, the board of directors of Xiaomi Group formally decided to exercise the authorization. As the 2020 annual performance report is about to be released, according to the listing rules, Xiaomi is not allowed to buy or sell shares during the period from February 23 to March 24, 2021. Therefore, the share repurchase will be irregular after the end of the prohibition period. carried out.

According to the announcement of Xiaomi Group on March 11, the board of directors believes that Xiaomi’s existing financial resources are sufficient to support share repurchases and maintain a stable financial position. Driven by the “Mobile Phone X AIoT” strategy, Xiaomi’s repurchase has expressed confidence in the current status and prospects of the business, and will ultimately benefit Xiaomi and create value for shareholders.

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