Midea Group (SHE:000333, HKG:0300) repurchased shares for 9.94 billion yuan, according to a Friday disclosure on the Shenzhen bourse.

The Chinese appliance manufacturer bought back 123 million shares, or 1.61% of the company's total share capital, for 87.71 yuan per share through centralized bidding.

The company plans to buy back shares of up to 13 billion yuan.