TUHU Car Inc. (SEHK:9690) commences share repurchases on March 18, 2024, under the program mandated by the shareholders in the Annual General Meeting held on September 7, 2023. As per the mandate, the company is authorized to repurchase up to 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 September 7, 2023, the company had 743,391,082 shares in issue.

On March 14, 2024, the company announced a share repurchase program. Under the program, the company will repurchase HKD 1,000 million worth of A shares. The repurchases will be made from own financial resources other than proceeds from the global offering.