Venus Medtech (Hangzhou) Inc. (SEHK:2500) commences share repurchases on December 8, 2021, under the program mandated by the shareholders in the Annual General Meeting and First Class Meeting of H shareholders and and the 2021 first class meeting of holders of unlisted foreign shares held on May 21, 2021. As per the mandate, the company is authorized to repurchase up to 43,170,744 class H shares, representing 10% of its issued class H share capital and 9.79% of its total 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 PRC. The authority shall expire at the earliest of the next Annual General Meeting or the revocation or variation of the mandate under the resolution by a special resolution at the next general meeting of the Company. As of May 21, 2021, the company had 441,011,443 ordinary shares (including 431,707,449 H Shares and 9,303,994 Unlisted Foreign Shares) shares in issue. On December 6, 2021, the company announced a share repurchase program. Under the program, the company will repurchase up to HKD 250 million worth of class H shares. The repurchased H Shares shall be cancelled. The Company intends to finance the repurchase by its own financial resources other than proceeds from the listing of the H Shares on the Main Board of The Stock Exchange of Hong Kong Limited in December 2019, and the placings of the H Shares in September 2020 and January 2021 respectively. The implementation period for the program is until the expiration of the authorization period of the AGM.