GD Power Development Co.,Ltd (SHSE:600795) commences share repurchases on November 18, 2020, under the program mandated by the shareholders in the Extraordinary General Meeting held on November 17, 2020. As per the mandate, the company is authorized to repurchase not more than CNY 1,600 million worth of its CNY ordinary A shares. The shares will be purchased at a price not exceeding CNY 2.57 per share. The purpose of repurchase program is to maintain company value and shareholders' equity. The shares will be repurchased out of own funds of the company or funds raised by issuing corporate bonds. The shares repurchased will be cancelled. The plan will be valid till February 16, 2021.