Joyoung Co.,Ltd (SZSE:002242) commences share repurchases on April 6, 2022, under the program mandated by the shareholders in the Extraordinary General Meeting held on November 19, 2021. As per the mandate, the company is authorized to repurchase class A shares for not more than CNY 360 million. The shares will be purchased at a price not exceeding CNY 29 per share.

The shares repurchased will be used to implement equity incentives or employee stock ownership plans The repurchase will be funded from company's own or self-raised funds. The repurchase program is valid for a period of 12 months from shareholders' approval.