Wolong Resources Group Co., Ltd. (SHSE:600173) announces a share repurchase program. Under the program, the company will repurchase its own shares for a total of CNY 50 million. The shares will be purchased at a price not exceeding CNY 6.52 per share.

The purpose of the program is to safeguard the interests of investors and promote the company's healthy and sustainable development; to further improve the company's long-term incentive mechanism. The repurchased shares will be used for employee stock ownership plans, equity incentives and other purposes permitted by national policies and regulations. If the company fails to use up the repurchased shares within three years after the announcement of the share repurchase results and share changes, the unused repurchased shares will be cancelled.

The program will be funded from company's own funds. The program will be valid for 6 months.