Zhejiang Biyi Electric Appliance Co., Ltd. (SHSE:603215) announces a share repurchase program. Under the program, the company will repurchase up to CNY 30 million worth of its common stock. The shares will be repurchased at a purchase price of CNY 24 per share.

The program will be funded from company's own funds. The repurchased shares are intended to be used for employee stock ownership plans or equity incentives. The program will be valid for 12 months.