Hengyi Petrochemical Co., Ltd. (SZSE:000703) announces a share repurchase program. Under the program, the company will repurchase up to CNY 2,000 million worth of its shares. The shares will be repurchased at a price not more than CNY 11.50 per share.

The shares repurchased will be used to convert the corporate bonds issued by the listed company that can be converted into shares. The repurchases will be funded by the company's own funds. The program will be valid for a period of 12 months.