China Renaissance commences Share Repurchase Plan

The plan is intended to optimize the Company’s capital structure, enhance earnings per share and overall shareholder return

The Company’s Chairman and CEO and other management and investor interests have purchased additional shares on the open market

China Renaissance Group (“China Renaissance” or the “Company”) has begun implementing its recently announced share repurchase plan that authorizes up to HK$400,000,000 in funds for the repurchase, subject to applicable rules and regulations. Separately, Fan Bao, the Company’s Chairman and Chief Executive Officer, and CR Partners, the Company’s controlling shareholder which represents certain management interests, have purchased an additional 575,000 shares combined on the open market during the first three days of trading since commencement of the repurchase plan.

The Company’s share repurchases commenced on 26 October shortly after the board (“Board”) of directors announced its intention to exercise its power to repurchase shares of the Company (“Repurchase Mandate”) on the open market from the date of the announcement to the conclusion of the Company’s next annual general meeting, at which point the mandate will expire.

Also, one of China Renaissance’s early investors has acquired additional shares on the open market.

In a statement filed with The Stock Exchange of Hong Kong, the Company said: “The Share Repurchase Plan reflects the confidence of the Board and the management team in the long-term strategy and growth of the Company. Moreover, the Company believes that actively managing the capital structure and implementing the Share Repurchase Plan will optimize the Company’s capital structure, enhance earnings per share and overall shareholder return. The Board considers that the Share Repurchase Plan is in the best interest of the Company and its Shareholders as a whole.”

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