Shenzhen Mingdiao Decoration Co.,Ltd. (SZSE:002830) announces a share repurchase program. Under the program, the company will repurchase up to CNY 40 million worth of its shares. The shares will be repurchased at no more than CNY 16 per share.

The purpose of the program is to use the repurchased shares for equity incentive plan or employee stock ownership plan. If the company fails to use the shares for the said purpose within 36 months of completion of the program, the unused shares will be cancelled. The company will use its own funds for the program.

The plan will be valid for 12 months.