Tianjin Guifaxiang 18th Street Mahua Food Co.,Ltd. (SZSE:002820) commences share repurchases on March 11, 2024, under the program mandated by the shareholders in the Extraordinary General Meeting held on March 7, 2024. As per the mandate, the company is authorized to repurchase to repurchase CNY 50 million worth of its common shares. The shares will be repurchased at a price of not more than CNY 12 per share.

The purpose of the program is to promote the company's healthy and stable long-term development, stabilize investors' investment expectations, and establish a good capital market image. The repurchased shares will be used for sale or else it would be cancelled. The program will be funded out of the company's own funds.

The program will be valid till 3 months from the date of approval by shareholders.