Bairong Inc. commences an Equity Buyback Plan for 50,267,339 shares, representing 10% of its issued share capital, under the authorization approved on May 16, 2023.

Bairong Inc. (SEHK:6608) commences share repurchases on May 17, 2023, under the program mandated by the shareholders in the Shareholder's Meeting held on May 16, 2023. As per the mandate, the company is authorized to repurchase 50,267,339 Class B shares, representing 10% of its total 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 its memorandum of association and Bye-laws and the applicable laws and regulations of 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 16, 2023, the company had 502,673,389 shares, comprising 79,914,181 Class A shares and 422,759,208 Class B shares in issue.