Chengxin Lithium Group Co., Ltd. (SZSE:002240) announces a share repurchase program. Under the program, the company will repurchase up to CNY 500 million worth of its shares. The repurchase price will not be more than CNY 33 per share.

The repurchased shares will be used for equity incentives or employee stock ownership plans, or for converting corporate bonds issued by listed companies that can be converted into stocks. Repurchases will be funded using company's own funds. The program will be valid for 12 months.