China Yongda Automobiles Services Holdings Limited (SEHK:3669) commences share repurchases on September 13, 2021, under the program mandated by the shareholders in the Annual General Meeting held on May 20, 2021. As per the mandate, the company is authorized to repurchase up to 197,591,541 shares, representing 10% of its issued share capital. The purpose for the buyback is to enhance the net asset value (NAV) per share and/or earnings per share (EPS). The repurchases will be funded out of funds, which are legally available for such purpose in accordance with the Memorandum and Articles, the laws of the Cayman Islands and other applicable laws, as the case may be, and will be financed by the company’s internal resources. The authority shall expire at the earliest of the next Annual general Meeting (AGM), the date on which the next AGM is required to be held or the date on which the authority is varied or revoked in a General Meeting. As on May 20, 2021, the company had 1,975,915,413 shares in issue.