Guangzhou Fangbang Electronics Co.,Ltd (SHSE:688020) announces a share repurchase program. Under the program, the company will repurchase up to CNY 30 million worth of its shares. The shares will be repurchased at a price not more than CNY 70 per share.

The shares repurchased will be used to implement employee stock ownership plans or equity incentives. If the company fails to use the shares for said purpose after 3 years of completion of repurchase, the shares will be cancelled. The repurchases will be funded by company's own funds.

The plan will be valid for 6 months.