Beauty Farm Medical and Health Industry Inc. (SEHK:2373) commences share repurchases on June 29, 2023, under the program mandated by the shareholders in the Annual General Meeting held on June 19, 2023. As per the mandate, the company is authorized to repurchase up to 23,666,106 shares, representing 10% of its 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 19, 2023, the company had 236,661,068 shares in issue.

On June 28, 2023, the company announced a share repurchase program. Under the program, the company will repurchase up to 2,370,000 shares, representing 1% for HKD 60 million. The shares will be repurchased at price of no more than 5% higher than the average closing market price for the shares over the five trading days immediately preceding each repurchase. The company will subsequently cancel the bought shares.