Youyuan International Holdings Ltd. (SEHK:2268) commences share repurchases on November 1, 2016, under the program mandated by the shareholders in the Annual General Meeting held on May 13, 2016. As per the mandate, the company is authorized to repurchase up to 118,623,633 shares, representing 10% of its share capital. Any repurchase will be made out of funds which are legally available for the purpose in accordance with the memorandum of association and bye-laws of the company and the Companies Act. The repurchases will be in accordance with laws and requirements and regulations of the Stock Exchange of Hong Kong Limited or on any other stock exchange on which the shares of the company may be listed and recognized by the Securities and Futures Commission and the Stock Exchange of Hong Kong Limited for this purpose, subject to and in accordance with all applicable laws and requirements of the Securities and Futures Commission, the Stock Exchange of Hong Kong Limited or any other Stock Exchange as amended from time to time. The program will be valid till the earliest of the conclusion of the next Annual General Meeting; the expiration of the period within which the next Annual General Meeting of the company is required by the articles of the company or the applicable laws of the Cayman Islands to be held; or revoked or varied by an ordinary resolution of the shareholders of the company in a General Meeting. As of May 13, 2016, the company had 1,186,236,339 shares in issue. On October 25, 2016, the company announced a share buyback program. Shares repurchased will be cancelled. The buyback program will commence immediately and will continue until the next AGM in 2017.