Hangzhou Boiler Group Co., Ltd. (SZSE:002534) announces a share repurchase program. Under the program, the company will repurchase up to 22,222,222 shares, representing 3.01% of its issued share capital, for total worth of CNY 200 million. The shares will be repurchased at a price of CNY 9.00 per share. The shares will be repurchased from the company's own funds. The repurchased shares will be used for implementation of ESOP or equity incentives. The program is valid for 12 months.