China Medical System Holdings Limited commences an Equity Buyback for 245,198,851 shares, representing 10% of its issued share capital, under the authorization approved on April 28, 2023.

China Medical System Holdings Limited (SEHK:867) commences share repurchases on April 2, 2024, under the program mandated by the shareholders in the Annual General Meeting held on April 28, 2023. As per the mandate, the company is authorized to repurchase up to 245,198,851 shares, representing 10% of its 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 of the funds legally available for such purpose in accordance with the applicable laws and regulations of the Cayman Islands, the Listing Rules and the Memorandum and Articles of Association of the company. 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 April 28, 2023, the company has 2,451,988,512 shares in issue.