Beijing Oriental Yuhong Waterproof Technology Co., Ltd. (SZSE:002271 commences share repurchases on August 14, 2018, under the program mandated by the shareholders in the Extraordinary General Meeting held on July 31, 2018. As per the mandate, the company is authorized to repurchase its A shares for a total of CNY 1,000 million. The shares will be repurchased at a price not exceeding CNY 22 per share. The program will be funded from the company's own funds. The repurchased shares will be used to implement the company's equity incentive plan. The program will be valid for 12 months from the date of the shareholder's meeting.