He Bei Cheng De Lolo Company Limited (SZSE:000848) commences share repurchases on June 23, 2022, under the program mandated by the shareholders in the Annual General Meeting held on May 6, 2022. As per the mandate, the company is authorized to repurchase up to CNY 400 million worth of its shares. The shares will be purchased at a price not exceeding CNY 13.3 per share.

The program will be funded from company's own funds. The program will be valid for 12 months from the date of the shareholder's meeting.