Befar Group Co.,Ltd (SHSE:601678) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its Class A shares. The shares will be repurchased at a price not more than CNY 10 per share.

The repurchases will be funded using company's own funds. The company intends to repurchase the company's shares for employee stock ownership plans or equity incentives. The program will be valid for 12 months.