Mobvista Inc. (SEHK:1860) commences share repurchases on December 7, 2021, under the program mandated by the shareholders in the Annual General Meeting held on June 8, 2021. As per the mandate, the company is authorized to repurchase up to 160,668,500 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value per share and/or earnings per share for the company. The repurchases will be made out of the funds legally available for such purpose in accordance with its memorandum of association and Bye-laws and the applicable laws and regulations 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 of June 8, 2021, the company had 1,606,685,000 shares in issue. On December 6, 2021, the company announced a share repurchase program. Under the program, the company will repurchase up to HKD 150 million worth of shares, under the Share Repurchase Mandate. The purpose of the program is to create value to the Shareholders. The program will be funded from current financial resources of the Company.