Simcere Pharmaceutical Group Limited (HK:2096) has released an update.
Simcere Pharmaceutical Group Limited has announced a voluntary share repurchase, following a shareholder resolution granting a mandate to buy back up to 10% of its shares. The company plans to use up to RMB500 million of internal resources for the repurchase by the next annual general meeting or until the mandate is revoked. The Board views this move as a demonstration of confidence in the company’s prospects and a strategy to enhance shareholder value, while maintaining a strong financial position.
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