KENGIC Intelligent Technology Co., Ltd. (SHSE:688455) announces a share repurchase program. Under the program, the company will repurchase up to CNY 60 million worth of its shares. The shares will be repurchased at a price not more than CNY 14.58 per share.

The repurchased shares will be used as equity incentives or ESOP. The funds for the repurchases are the excess raised funds obtained from the company?s initial public offering of CNY common shares. The program will be valid for a period of 12 months.