Weibo (09898.HK) announced in Hong Kong that its controlling shareholder, Sina, received an adverse ruling in the valuation proceedings regarding its privatization conducted pursuant to Section 238 of the Companies Law of the Cayman Islands. Sina has appealed the judgment to the Cayman Islands Court of Appeal, which has granted a stay of execution of the judgment and related orders pending the outcome of the appeal. The outcome of the Section 238 appeal remains undetermined. The Company’s Board of Directors has approved an authorization for the Company to repurchase shares (including American Depositary Shares) totaling no more than $200 million during the 12-month period ending December 31, 2026.