AGAPE ATP Corporation (NASDAQ:ATPC) ("ATPC" or the "Company") announced that its board of directors has authorized a share repurchase plan under which the Company may repurchase up to US$1 million of its shares over the next 6 months. The board of directors have also approved the appointment of Network 1 Financial Securities as the broker to execute the repurchase on behalf of ATPC.

The share repurchases may be made from time to time in the open market transactions, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable securities laws and regulations, including Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The Company expects to fund repurchases made under this plan from its existing funds. The manner, timing and amount of the share repurchases made pursuant to the program will be decided by the Company's management based on its evaluation of various factors, including the trading price of the Company's ordinary stocks, market and economic conditions, regulatory requirements and other corporate considerations. This repurchase authorization does not obligate the Company to acquire any specific number of shares or securities and may be modified, suspended or discontinued at any time. ATPC's board of directors will review the share repurchase plan periodically, and may authorize adjustment of its terms and size.