Botai Vehicle Connectivity Co., Ltd. Share Repurchase Authorization Approved by Shareholders' Meeting

On March 26, Botai Automotive released a “Voluntary Announcement - Intention to Conduct Share Buyback in the Market,” indicating that the special resolution passed at the extraordinary general meeting grants the board of directors a general authorization for buybacks. According to the details of the buyback authorization, the company is permitted to repurchase up to 10% of its issued H-shares, which amounts to a maximum of 7,099,784 H-shares, intending to repurchase its H-shares from time to time in the open market.

Botai Automotive stated that the implementation of this buyback authorization is based on the company’s strategic considerations for long-term development, with the core aim being to protect shareholder rights, enhance investor confidence, and support the company in achieving long-term stable growth.

Image source: Botai Automotive

It is understood that Botai Automotive is a provider of intelligent automotive solutions driven by AI technology, having established full-stack technical capabilities in “software + hardware + cloud + chips,” maintaining a leading position in the high-end intelligent cockpit market. Since its listing on the Hong Kong stock market, the company has consecutively secured multiple high-end project appointments, while also receiving initial coverage from several leading brokerages, which have given it a “buy” rating, laying a business foundation for its capital market layout.

In the future, Botai Automotive will continue to focus on its core intelligent cockpit business, using AI technology innovation to drive value creation and continuously layout the development of the intelligent automotive industry.