Zhejiang Huahai Pharmaceutical Co., Ltd. (SHSE:600521) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its common stock. The shares will be repurchased at a price of CNY 24.49 per share.

The shares will be funded from company?s own funds. The share repurchase is intended to be used for equity incentives or employee stock ownership plans. The program will be valid for 12 months.