Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. (SEHK:1349) commences share repurchases on July 2, 2021, under the program mandated by the shareholders in the Annual General Meeting, Class meeting of the holders of H Shares and Class meeting of the holders of A Shares held on May 27, 2021. As per the mandate, the company is authorized to repurchase up to 34,000,000 class H shares, representing 3.26% of its issued share capital and 10% of its class H shares issued. The shares will be repurchased at a price not be higher than 5% of the average closing price of H shares in the five trading days prior to the actual repurchase date. 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 the People’s Republic of China. 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, the class meeting of the holders of H Shares and the class meeting of the holders of A Shares of the company. As of May 27, 2021, the company had 1,043,000,000 shares, of which 703,000,000 were A Shares and 340,000,000 were H Shares.