Bairong Inc. commences an Equity Buyback Plan for 50,920,907 shares, representing 10% of its issued share capital, under the authorization approved on May 31, 2022.

Bairong Inc. (SEHK:6608) commences share repurchases on June 14, 2022, under the program mandated by the shareholders in the Shareholder's Meeting held on May 31, 2022. As per the mandate, the company is authorized to repurchase 50,920,907 Class B shares, representing up to 11.94% of the class B issued share capital and 10% 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 Cayman Islands. 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. As of June 14, 2022, the company had 509,209,071 shares, comprising 82,806,129 Class A shares and 426,402,942 Class B shares in issue.