Haier Electronics Group Co., Ltd. (SEHK:1169) commences share repurchases on September 4, 2019, under the program mandated by the shareholders in the Annual General Meeting held on June 27, 2019. As per the mandate, the company is authorized to repurchase up to 280,338,328 shares, representing 10% of its issued share capital. Any repurchase will be financed from company's internal resources, distributable profits as well as funds which are legally available for the purpose in accordance with the memorandum of association and bye-laws of the company and the Companies Act. 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 27, 2019, the company had 2,803,383,278 shares in issue.