China State Construction International Holdings Limited (SEHK:3311) commences share repurchases on January 26, 2021, under the program mandated by the shareholders in the Annual General Meeting held on June 10, 2020. As per the mandate, the company is authorized to repurchase up to 504,915,667 shares, representing 10% of its issued share capital. The purpose of share repurchase program is to enhance the net asset value and/or earnings per share. The repurchases will be made out of the funds legally available for such purpose in accordance with its Bye-Laws and the applicable laws of Cayman Islands. The company may make repurchases out of profits or share premium of the company or the proceeds of a fresh issue of shares made for the purposes. 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 carried out to the full extent, unless varied or revoked in a General Meeting. As of June 10, 2020, the company had 5,049,156,668 shares in issue.