Jinhua Chunguang Technology Co.,Ltd (SHSE:603657) announces a share repurchase program. Under the program, the company will repurchase its own A shares for a total of CNY 40 million. The shares will be purchased at a price not exceeding CNY 20 per share.

The purpose of the program is to improve the company's long-term incentive mechanism, fully mobilize the enthusiasm of the company's employees, enhance the company's cohesion, promote the company's stable, healthy and sustainable development, and effectively safeguard the interests of all shareholders legitimate rights and interests. The repurchased shares will be used for the implementation of ESOP or equity incentive plan. The program will be funded from company's own funds.

The program will be valid for 12 months.