Wuxi Chipown Micro-electronics limited (SHSE:688508) announces a share repurchase program. Under the program, the company will repurchase up to CNY 80 million worth of its shares. The shares will be repurchased at a price of CNY 67.55 per share.

The repurchased shares will be used for employee stock ownership plan or equity incentives. The repurchases will be funded from own funds or loans from financial institutions. The program is valid for a period of 12 months.