China Aoyuan Property Group Limited (SEHK:3883) commences share repurchases on February 2, 2021, under the program mandated by the shareholders in the Annual General Meeting held on May 22, 2020. As per the mandate, the company is authorized to repurchase up to 270,288,335 shares, representing 10% of its issued share capital. Any repurchase will be made out of funds which are legally available for the purpose in accordance with its articles of association, the laws of the cayman Islands and/or any other applicable laws. The repurchase program will lead to an enhancement of net asset value per share and/or earnings per share. 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 22, 2020, the company had 2,702,883,354 shares in issue.