Qingdao Weflo Valve Co., Ltd. (SZSE:002871) announces a share repurchase program. Under the program, the company will repurchase up to CNY 60 million worth of shares. The shares will be repurchased at a price not more than CNY 15.50 per share.

The purpose of the program is to use the repurchased shares for employee stock ownership plan or equity incentives. The plan is valid for 12 months.