[Edaily Reporter Shin Ha-yeon ] #CHOONG ANG VACCINE LABORATORY will cancel approximately 200,000 of its own shares to enhance shareholder value.

The CHOONG ANG VACCINE LABORATORY announced that it held a board of directors meeting on the 25th and resolved to cancel all 201,906 shares of treasury stock held by the company.

This cancellation represents approximately 2.1% of the total number of issued shares. Following the cancellation of treasury shares last December, the company has decided on an additional cancellation, continuing its shareholder return policy.

Treasury stock cancellation is a key shareholder return policy that increases earnings per share (EPS) by reducing the number of shares outstanding, and is expected to enhance per-share value and corporate value.

Alongside shareholder returns, the company is also focusing on securing mid- to long-term growth drivers. While pushing for the commercialization of its core pipeline product—the African Swine Fever (ASF) vaccine—it is also expanding into overseas markets, establishing a local production base through a joint venture (JV) in Egypt, and advancing its global contract manufacturing organization (CMO) business.

The ASF vaccine is currently undergoing commercialization procedures in Vietnam and the Philippines, and the company is simultaneously pursuing technology transfers to multinational corporations to enter the global market.

An official from the CHOONG ANG VACCINE LABORATORY stated, “We believe that despite our solid performance and future growth drivers, our corporate value is not being fully recognized by the market, which is why we are strengthening our shareholder return policy,” adding, “We will continue our efforts to enhance shareholder value and corporate value going forward.”