Suzhou Douson Drilling & Production Equipment Co.,Ltd. (SHSE:603800) 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 32 per share.

The shares repurchased will be used for ESOP or equity incentives. The shares will be used for the above within 36 months after the completion of the repurchase. Shares that are not used within the period will be cancelled.

The repurchase period will be not more than 12 months from the company's directorate's approval date.