Ming Yuan Cloud Group Holdings Limited (HK:0909) has released an update.
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Ming Yuan Cloud Group Holdings Limited has announced their plan to repurchase up to 10% of their shares, amounting to a maximum of HK$500 million, starting from 16 August 2024, subject to market conditions. The company believes this move reflects confidence in their business prospects and intrinsic value of the shares, emphasizing that the repurchase will maintain a solid financial position. However, the execution of this repurchase plan remains at the discretion of the Board, with no guaranteed timing or price, advising shareholders to trade cautiously.
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