Sichuan Furong Technology Co., Ltd. (SHSE:603327) announces a share repurchase program. Under the program, the company will repurchase up to CNY 70 million worth of its A common stock. The shares will be repurchased art a price of CNY 21 per share.

The repurchases will be funded from its own funds. The purpose of the program is equity incentives, employee stock ownership plans, convertible bond conversion. The program will be valid for 12 months.