Shenzhen Topband Co., Ltd. (SZSE:002139) announces a share repurchase program. Under the program, the company will repurchase up to CNY 50 million worth of its shares. The shares will be repurchased at a price not more than CNY 13 per share.

The purpose of repurchase program is to improve the company's long-term incentive mechanism, fully mobilize the enthusiasm of core employees and business development. The repurchased shares will be used for employee stock ownership plan or equity incentives and if company fails to use the repurchased shares then shares will be cancelled. The shares will be repurchased from company's own funds.

The authorization will be valid for a period of 12 months.