Shenzhen MinDe Electronics Technology Ltd. (SZSE:300656) announces a share repurchase program. Under the program, the company will repurchase up to CNY 60 million worth of its shares. The shares will be purchased at a price not exceeding CNY 30.16 per share.

The purpose of the program is to safeguard the interests of the majority of shareholders and enhance investor confidence, and in order to further establish and improve the company's long-term incentive mechanism, and promote the healthy and sustainable development of the company. The repurchased shares will be used for equity incentives and employee stock ownership plans, otherwise will be cancelled if the company fails to transfer them within the time limit stipulated by relevant laws and regulations. The program will be funded from company's own funds.

The program will be valid for 12 months.