Hunan Friendship & Apollo Commercial Co., Ltd. (SZSE:002277) commences share repurchases on March 19, 2018 under the program mandated by the shareholders in the Annual General Meeting held on February 28, 2018. As per the mandate, the company is authorized to repurchase up to CNY 200 million at a price no more than CNY 5.50 per share. The program will be valid for 12 months.