iDreamSky Technology Holdings Limited (SEHK:1119) commences share repurchases on December 24, 2020, under the program mandated by the shareholders in the Annual General Meeting held on June 24, 2020. As per the mandate, the company is authorized to repurchase up to 126,971,899 shares, representing 10% of its issued share capital. The purpose of repurchase program is to enhance the net asset value and earning per share of the company. The repurchases will be financed out of the funds legally available for the purpose and in accordance with the Articles of Association, the Listing Rules and the applicable laws and regulations of the 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 24, 2020, the company had 1,269,718,990 shares in issue.