YAN PALACE (01497) plans to repurchase up to 46.55 million H shares.

YAN PALACE (01497) announced that the board of directors will, depending on market conditions and the company's financial arrangements, intend to repurchase H shares in the open market for up to HK$100 million from the date of this announcement until the expiration of the general authorization to repurchase H shares. The total number of H shares to be repurchased will not exceed 46.55 million H shares, which is 10% of the total number of H shares issued as of the date of the Annual General Meeting (excluding treasury shares, if any). The company's current cash flow is healthy, and its overall financial condition is robust, meeting the needs for the continued development of the company's business. The board believes that the value of H shares traded in the market is undervalued. By repurchasing H shares, the board aims to demonstrate the company's confidence in its future business prospects and to enhance returns to shareholders. This action is expected to benefit the company and create value for shareholders, aligning with the overall interests of the company and its shareholders.