Kingsoft Corporation Limited commences an Equity Buyback Plan for 133,916,712 shares, representing 10% of its issued share capital, under the authorization approved on May 23, 2024.

Kingsoft Corporation Limited (SEHK:3888) commences share repurchases on June 17, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 23, 2024. As per the mandate, the company is authorized to repurchase up to 133,916,712 shares, representing 10% of its issued share capital. The purpose for the buyback is to enhance the net asset value per share and/or earnings per share.

The repurchases will be funded from the company?s available cash flow or working capital facilities which will be legally available for such purpose in accordance with its memorandum of association and Articles of Association, the Companies Law of the Cayman Islands and any other applicable law. 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 May 23, 2024, the company had 1,339,167,117 shares in issue.