Jiangsu Feymer Technology Co., Ltd. (SHSE:688350) announces a share repurchase program. Under the program, the company will repurchase up to CNY 50 million worth of its A shares. The shares will be repurchased at a price not more than CNY 14 per share.

The repurchased shares will be used to convert bonds or to be used for the employee stock ownership plans and equity incentives. If the company fails to use the shares for said purpose within 36 months of completion of program, the unused shares will be cancelled. The company will use its own fund to fund the repurchases.

The authorization will be valid for a period of 12 months.