Espressif Systems (Shanghai) Co., Ltd. (SHSE:688018) 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 purchased at a price not exceeding CNY 120 per share.

The repurchased shares will be used for the implementation of ESOP or equity incentive plan. If the company fails to use up the repurchased shares within 3 years after the implementation result of the share repurchase and the announcement of the share change, the unused repurchased shares will be cancelled. The program will be funded from company's own funds.

The program will be valid for 12 months.