Suzhou Xianglou New Material Co., Ltd. (SZSE:301160) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its shares. The shares will be repurchased at a price not more than CNY 58 per share.

The repurchased share will be used for employee stock ownership plan and equity incentives. The company plans to use its own or self-raised funds to repurchase its own shares. The program will be valid for a period of 12 months.