Z.AI (02513.HK): Plans H-Share Buyback of Up to HKD 4 Billion, Capped at 1% of Issued Shares

NewTimeSpace News: On 10 November 2026, Z.AI Co., Ltd. (stock code: 02513) voluntarily announced that, after receiving a share buyback proposal from chairman Dr. Liu Debing, it intends to repurchase H shares on the open market from time to time under the general mandate granted by shareholders at the annual general meeting held on 22 June 2026, with a proposed aggregate amount of up to HKD 4 billion and a total number of H shares not exceeding 1% of the Company's total issued shares as at the date of the announcement.

The announcement disclosed that the buyback mandate remains valid until the earlier of the conclusion of the Company's 2026 annual general meeting and the date on which shareholders pass a special resolution to revoke or vary it. The buyback plan will be implemented at appropriate times during the mandate period, having regard to market conditions and under the direction of the board and/or its authorised persons, in compliance with the articles of association, the Listing Rules, the Codes on Takeovers and Mergers and Share Buy-backs, applicable PRC law and other applicable laws, and subject to any necessary regulatory approvals.

The Company stated that the board and its authorised persons will not exercise the mandate in a way that would trigger a mandatory offer obligation under Rule 26 of the Takeovers Code or reduce the H shares held by the public below the prescribed minimum percentage required by the Stock Exchange. It believes the plan demonstrates confidence in the Group's long-term business outlook and prospects and its commitment to enhancing shareholder value, and will take into account the Group's financial position, working capital requirements and business development needs so as to maintain sufficient resources for operations and growth.

The Company cautioned that the plan is subject to the board's absolute discretion based on market conditions, and that there is no assurance as to the timing, number or price of any repurchase or that any H shares will be repurchased, advising shareholders and potential investors to exercise caution when dealing in its securities.