Kingnet Network Co., Ltd. (SZSE:002517) 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 repurchased at a price not more than CNY 21.78 per share.

The repurchase shares will be used for equity incentive plan and employee stock ownership plan. The plan will be valid for a period of 12 months.