Jiangsu Changbao Steeltube Co.,Ltd (SZSE:002478) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 60 million worth of its shares Class A shares. The shares will be repurchased at a price not more than CNY 5.80 per share.

The program will be funded using the company's own funds. The repurchased shares will be used for implementation of the employee stock ownership plan or equity incentive plan. The program will be valid for a period of 12 months.