Ningxia Zhongyin Cashmere Co., Ltd. (SZSE:000982) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its class A shares. The shares will be repurchased at a price not more than CNY 1.68 per share and not exceeding 150% of the average price of the company's stock trading 30 trading days before the board approved the repurchase resolution. The program will be funded out of the company's own funds. The purpose of the program is to protect the legitimate rights and interests of all shareholders, enhance investor confidence, increase recognition of the company's value and confidence in the company's future development prospects and further improve the company's long-term incentive mechanism. The repurchased shares will be used for employee stock ownership plan or equity incentive plan. The program is valid till earlier of 12 months from the date of approval of the program or when the repurchase amount reaches the maximum limit within this period, unless terminated by board.