China Biotech Services Holdings Limited (SEHK:8037) commences share repurchases on June 22, 2021, under the program mandated by the shareholders in the Annual General Meeting held on May 18, 2021. As per the mandate, the company is authorized to repurchase up to 96,544,115 shares, representing 10% of its issued share capital. The purpose of the program is to enhance the net asset value per share and/or earnings per share. The repurchases will be made out of the funds legally available for such purpose in accordance with its memorandum of association and bye-laws, the laws of Bermuda, and any other applicable laws. 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 18, 2021, the company had 965,441,150 shares in issue.