Yantai Changyu Pioneer Wine Company Limited (SZSE:000869) commences share repurchases on May 21, 2024, under the program mandated by the Extraordinary General Meeting held on March 11, 2024. As per the mandate, the company is authorized to repurchase up to 10,000,000 class B domestically listed foreign-invested shares, representing 8.62% of its issued share capital, for CNY 200 million. The shares will be repurchased at a price not exceeding HKD 12.65 per share. The repurchases will be funded out of own funds of the company. The repurchased shares will be cancelled, and the company's registered capital will be reduced accordingly. The program is valid for 12 months.

On June 14, 2024, the company adjusted its upper limit on shares repurchase price after the implementation of equity distribution. The company has adjusted repurchase price to CNY 12.11 per share.