Livzon Pharmaceutical Group Inc. (SZSE:000513) commences share repurchases on January 18, 2024, under the program mandated by the shareholders in the Extraordinary General Meeting held on December 19, 2023. As per the mandate, the company is authorized to repurchase up to CNY 600 million worth of its A shares. The shares will be repurchased at a price not more than CNY 38 per share.

The purpose of the program is to enhance long-term investment value of the company?s shares, safeguarding the interests of investors and strengthening investor confidence, on the basis of the high recognition of the company?s value and confidence in the company?s future development. The repurchased shares will be cancelled for reducing the registered capital. The source of funds used by the company for the share repurchase shall be the company?s internal funds only.

The authorization will be valid for a period of 12 months, from the approval date. As of December 19, 2023, the company had 923,938,139 shares in issue, which are comprising of 614,106,922 A shares and 309,831,217 H shares.