Semiconductor Manufacturing International Corporation commences an Equity Buyback Plan for 790,078,013 shares, representing 10% of its issued share capital, under the authorization approved on June 25, 2021.

Semiconductor Manufacturing International Corporation (SEHK:981) commences share repurchases on May 19, 2022, under the program mandated by the shareholders in the Annual General Meeting held on June 25, 2021. As per the mandate, the company is authorized to repurchase up to 790,078,013 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value and/or earnings per share for the company.

The repurchases will be made out of funds legally available for such purpose in accordance with the Articles of Association, the applicable laws and regulations of the Cayman Islands and the Hong Kong Listing Rules. 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 25, 2021, the company had 7,900,780,131 shares in issue.