Riyue Heavy Industry Co., Ltd. (SHSE:603218) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 300 million worth of its shares. The repurchased shares will be used for ESOP or equity incentives.

The shares will be repurchased at a price of not more than CNY 22 per share. The plan will be valid for 12 months from the Board of Directors' approval.