Zhang Xiaoquan Inc. (SZSE:301055) announces a share repurchase program. Under the program, the company will repurchase up to CNY 40 million worth of its A shares. The shares will be purchased at a price not exceeding CNY 20.66 per share.

The repurchased shares will be used for employee stock ownership plans or equity incentive plans. The program will be valid for 12 months.