Shandong Huatai Paper Industry Shareholding Co.,Ltd (SHSE:600308) announces a share repurchase program. Under the program, the company will repurchase up to CNY 120 million worth of its A shares. The shares will be repurchased at a price not more than CNY 4.8 per share.

The repurchases will be funded from company's own fund. The repurchased share will be used for employee stock ownership plan and equity incentives. The program will be valid for a period of 12 months.