Geely Auto announces HK$23 bln share buyback plan

Geely Automobile (0175) has approved a share repurchase plan of up to HK$23 billion, the company said in a statement on Monday.

The buyback will be conducted through an automated mechanism on the open market, pending approval from the Hong Kong Stock Exchange.

The company stated that the plan aligns with the overall best interests of shareholders.

Geely emphasized that its existing financial resources are sufficient to support the buyback while maintaining a solid financial position.