Befar Group Co.,Ltd (SHSE:601678) announces a share repurchase program. Under the program, the company will repurchase up to CNY 150 million worth of its A shares. The shares will be purchased at a price not exceeding CNY 6.61 per share.

The purpose of the program is to promote the company?s stock price to match its intrinsic value. The repurchased shares will be used for the implementation of ESOP. The program will be funded from company's own funds.

The program will be valid for 12 months.