Kofo Medical Buys Back 2.5169 Million A Shares For About RMB 130 Million

Kofo Medical (01187) said it had repurchased 2.5169 million A shares through its dedicated buyback securities account by Tuesday, representing 1.2% of its total A-share capital, for about RMB 130 million, according to ETNet. The shares were bought at a highest price of RMB 54.68 each and a lowest price of RMB 48.39 each, and the repurchase was in line with the company's buyback plan. The company also said it held an investor relations event yesterday and disclosed that it had obtained brand licences from Philips Greater China for seven health-monitoring categories, including blood glucose meters, blood pressure monitors, continuous glucose monitoring devices, thermometers, pulse oximeters, lung function devices and weighing scales. The first batch of products has completed registration and production-line construction, and the company is preparing for launch. Kofo Medical added that it is carrying out A-share buybacks and H-share purchases by its controlling shareholder at the same time, citing growth in its core product lines including respiratory support, health monitoring and rehabilitation devices. It said its C11 ventilators, continuous glucose monitoring systems and new Philips products continue to be rolled out, supporting medium- to long-term earnings growth. The company said the A-share repurchased shares will be cancelled to reduce total capital and help lift earnings per share and return on equity.