Newonder Special Electric Co.,Ltd (SZSE:301120) announces a share repurchase program. Under the program, the company will repurchase up to CNY 45 million worth of its A shares. The shares will be purchased at a price not exceeding CNY 17 per share.

The repurchased shares will be used for employee stock ownership plans or equity incentive plans. If the company fails to use the shares for said purpose within 3 years after completion of repurchase, the unused shares will be cancelled. The program will be funded from part of the over-raised funds obtained from the company's initial public offering of RMB ordinary shares.

The program will be valid for 12 months.