MicroTech Medical (Hangzhou) Co., Ltd. (SEHK:2235) commences share repurchases on November 24, 2023, under the program mandated by the shareholders in the Annual General Meeting held on May 18, 2023. As per the mandate, the company is authorized to repurchase up to 17,384,044 shares, representing 4.08% of its issued share capital. The repurchases will lead to an enhancement of the net asset value and/or earnings per share for the company.

The repurchases will be made from the funds which are legally available for such purpose in accordance with the Articles of Association, the Listing Rules and the applicable PRC laws and regulations. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual general Meeting is required to be held or the date on which the authority is varied or revoked in a General Meeting. As of May 18, 2023, the company had 425,742,600 shares in issue.