Yongsheng Advanced Materials Company Limited commences an Equity Buyback Plan for 73,254,309 shares, representing 10% of its issued share capital, under the authorization approved on May 27, 2021.

Yongsheng Advanced Materials Company Limited (SEHK:3608) commences share repurchases on May 26, 2022, under the program mandated by the shareholders in the Annual General Meeting held on May 27, 2021. As per the mandate, the company is authorized to repurchase up to 73,254,309 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value per share and/or earnings per share for the company.

The repurchases will be made out of the funds legally available for such purpose in accordance with the Memorandum and Articles, the Listing Rules and the applicable laws of the Cayman Islands. 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 May 27, 2021, the company had 732,543,090 shares in issue.