HMT (Xiamen) New Technical Materials Co., Ltd (SHSE:603306) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its shares. The shares will be purchased at a price not exceeding CNY 40 per share.

The purpose of the program is to improve the company's long-term incentive mechanism, fully mobilize the enthusiasm of the employees, and jointly promote the company's long-term development. The repurchased shares will be used for employee stock ownership plans, otherwise will be cancelled if the company fails to transfer them within the time limit stipulated by relevant laws and regulations. The program will be funded from company's own funds.

The program will be valid for 12 months.