FangDa Carbon New Material Co.,Ltd (SHSE:600516) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 350 million worth of its shares. The shares will be repurchased at a price of not more than CNY 9.10 per share.

The repurchased shares will be used for ESOP or equity incentives. The plan will be valid for 12 months from the Board of Directors' approval.