Cogobuy Group (SEHK:400) commences share repurchases on January 26, 2022, under the program mandated by the shareholders in the Annual General Meeting held on June 10, 2021. As per the mandate, the company is authorized to repurchase up to 141,618,473 shares, representing 10% of its issued share capital. The purpose of the program is to enhance the net asset value per share and/or earnings per share.

The repurchases will be made out of the funds legally available for share repurchase in accordance with its articles of association, the laws of the Cayman Islands and/or any other applicable laws. The repurchased shares will be cancelled. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is varied or revoked in a General Meeting.

As of June 10, 2021, the company had 1,416,184,732 shares in issue.