Simcere Pharmaceutical Group Limited (SEHK:2096) commences share repurchases on June 18, 2024, under the program mandated by the shareholders in the Annual General Meeting held on June 14, 2024. As per the mandate, the company is authorized to repurchase up to 260,976,161 shares, representing 10% of its issued share capital. The purpose of repurchase program is to enhance the net assets and/or its earnings per share. The repurchases will be made out of the funds legally available for such purpose in accordance with the Articles, the Listing Rules and the applicable laws of Hong Kong. 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 carried out to the full extent, unless varied or revoked in a General Meeting. As of June 14, 2024, the company has 2,609,761,618 shares in issue.

On June 14, 2024, the company announces a share repurchase program. Under the program, the company will repurchase up to CNY 500 million worth of its shares. The program will be funded from the company?s internal resources.