Hubei Xiangyuan New Material Technology Inc. (SZSE:300980) announces a share repurchase program. Under the program, the company will repurchase up to CNY 60 million worth of its shares. The repurchase price will not be more than CNY 30 per share.

The repurchases will be funded using company?s own funds. The repurchased shares will be used for the implementation of employee shareholding plan or as equity incentive. The program will be valid for 3 months .