Shede Spirits Co., Ltd. (SHSE:600702) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its shares. The shares will be repurchased at a price of not more than CNY 131 per share.

The repurchased shares will be used to implement the employee stock ownership plan. The source of funds for the share repurchase is the company's own funds. The term of this repurchase of shares shall not exceed 6 months.