Xinxiang Chemical Fiber Co., Ltd. (SZSE:000949) announces a share repurchase program. Under the program, the company will repurchase up to CNY 180 million worth of its shares. The shares will be repurchased at a price of CNY 4.8 per share.

The company will use its own funds to repurchase shares. The purpose of the program is to maintain the company's value and shareholders' rights and interests. The repurchased shares will be sold by centralized bidding and the unsold part will be cancelled.

The program will continue for 3 months period.