NEXTEER (01316.HK): board approves up to USD 60m buyback
- The programme is capped at USD 60 million (about HKD 471 million), the company's first, and repurchased shares may be cancelled.
- It runs until the next AGM's conclusion, the date the next AGM must be held, or revocation or variation of the mandate, whichever is earliest.
NewTimeSpace News: On 12 November 2026, Nexteer Automotive Group Limited (stock code: 01316) said its board approved on 11 November 2026 a share buyback programme of up to USD 60 million (about HKD 471 million), the company's first. Under the general mandate granted at the AGM on 17 June 2026 and the Listing Rules, the Takeovers Code, Cayman Islands law and its constitutional documents, it may buy back ordinary shares on the Stock Exchange and cancel them.
It runs from the approval date until the earliest of the next AGM's conclusion, the date the next AGM must be held, or revocation or variation of the mandate by ordinary resolution.
The board said the plan reflects confidence in the group's fundamentals and long-term prospects; the company paid about USD 46 million of dividends in July 2026, or 45% of 2025 net profit attributable to shareholders, its highest payout ratio on record. Actual timing, volume and price are not guaranteed, and the plan may not be fully carried out.
- NEXTEER(01316.HK): 2026 Interim Report - Profit Attributable to Shareholders stood at USD 85.81 million, YoY increase of 35.17%
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