Zhipu: Plans to repurchase H shares for up to HK$4 billion

Zhipu (02513.HK) said its board has proposed repurchasing H shares on the open market with a total cap of HK$4 billion, following a buyback proposal from chairman Liu Debing under the general mandate granted at the June 22, 2026 annual shareholders' meeting. The plan would cover no more than 1% of total issued shares as of the announcement date and will be executed on an occasional basis. Zhipu framed the move as a signal of confidence in its long-term business outlook and a commitment to enhancing shareholder value. The company said execution will account for its financial position, working capital needs and business development requirements so it retains sufficient resources for ongoing operations and growth. Investors will watch the pace and actual size of purchases against the HK$4 billion ceiling and whether the buyback supports the stock near current levels.