JS Global Lifestyle Company Limited (SEHK:1691) commences share repurchases on June 9, 2023, under the program mandated by the shareholders in the Annual General Meeting held on May 22, 2023. As per the mandate, the company is authorized to repurchase up to 349,461,227 shares, representing 10% of its issued share capital. The repurchases will result in an increase in the net asset value and/or earnings per share. The repurchase program will be funded out of funds legally available for the purpose in accordance with the Memorandum and Articles of Association of the company, and any other applicable laws of Cayman Islands. 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 at May 22, 2023, the company has 3,494,612,277 shares in issue.

On June 6, 2023, the company announced a share repurchase program. Under the program, the company will repurchase HKD 400 million worth of shares. The company will subsequently cancel the bought shares. The purpose of the program is to enhance the value of the shares and improve return to the shareholders.