Shanghai Laiyifen Co.,Ltd (SHSE:603777) announces a share repurchase program. Under the program, the company will repurchase up to CNY 70 million worth of its shares. The shares will be repurchased for a price not more than CNY 20 per share.

The repurchased shares will be used for ESOP and equity incentive plan. The plan will be valid for 6 months.