Nanjing Kangni Mechanical & Electrical Co.,Ltd (SHSE:603111) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its A shares. The shares will be repurchased at a price not more than CNY 7.5 per share.

The company intends to use its own funds to repurchase shares. The repurchased shares will be used in equity incentive plans. The share repurchase program will be valid for 12 months.