Luenmei Quantum Co.,Ltd (SHSE:600167) announces a share repurchase program. Under the program, the company will repurchase up to CNY 500 million worth of its common stock. The shares will be repurchased at a price of CNY 16 per share.

The program will be funded from company's own funds or funds raised by issuing corporate bonds.. The shares repurchased will be used for the implementation of employee stock ownership plans or equity incentive plans. The program will be valid for 12 months.