Kwai announced its repurchase for the first time, with a total planned amount of no more than HK $4 billion
On May 22, it was reported that Kwai Technology announced the launch of a buyback plan with a total amount of no more than 4 billion Hong Kong dollars. According to public data, this is the first time that Kwai announced its repurchase plan after its listing
On May 22, it was reported that Kwai Technology announced the launch of a buyback plan with a total amount of no more than 4 billion Hong Kong dollars. According to public data, this is the first time that Kwai announced its repurchase plan after its listing.
The voluntary announcement issued by Kwai Technology said that the board of directors announced that it planned to buy back the company's shares from time to time in the open market between May 22 this year and the 2024 annual general meeting of shareholders, with a total amount of no more than 4 billion Hong Kong dollars.
On the same day, Kwai Technology released its performance in the first quarter of 2023. In the quarter, the company achieved a year-on-year growth of 19.7% in total revenue to 25.22 billion yuan, and turned losses into profits in advance at the group level. The adjusted net profit in the quarter was 42 million yuan. This is also the first time that Kwai has achieved an overall profit at the group level since its listing, following the four consecutive quarters of operating profit in domestic business. The financial report shows that as of March 31, 2023, Kwai held cash and cash equivalents totaling 44.8 billion yuan. (One Orange)
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