HL Corp (Shenzhen) (SZSE:002105) commences share repurchases on April 29, 2020, under the program mandated by the shareholders in the Annual General Meeting held on January 7, 2020. As per the mandate, the company is authorized to repurchase up to CNY 22 million worth of shares. The shares will be repurchased at a price of CNY 5.5 per share. The shares will be used for equity incentives or ESOP. The repurchase program will be valid for 12 months from the shareholders meeting’s approval date.