China Harmony Auto Holding Limited announces an Equity Buyback for 154,699,667 shares, representing 10% of its issued share capital, under the authorization approved on June 16, 2022.

China Harmony Auto Holding Limited (SEHK:3836) commences share repurchases on June 17, 2022, under the program mandated by the shareholders in the Annual General Meeting held on June 16, 2022. As per the mandate, the company is authorized to repurchase up to 154,699,667 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value of the company and/or earnings per share.

The company may only apply funds legally available for share buy-back in accordance with its Articles of Association, the laws of Cayman Islands and/or any other applicable laws, as the case may be. 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 June 16, 2022, the company had 1,546,996,677 shares in issue.