Hengyi Petrochemical Co., Ltd. (SZSE:000703) announces a share repurchase program. Under the program, the company will repurchase up to a maximum of CNY 1,000 million worth of its shares. The shares will be repurchased at a price not more than CNY 18 per share. The repurchased shares will be used to implement employee stock ownership plans or stock incentives. The program will be funded from the company's own funds. The program will be valid for 12 months.