Zhejiang Sanhua Intelligent Controls Co.,Ltd (SZSE:002050) announces a share repurchase program. Under the program, the company will repurchase up to CNY 400 million worth of its common shares (A shares). The shares will be repurchased at a price of CNY 30 per share.

The purpose of the share repurchases is to implementation of employee stock ownership plans or equity incentives. The program is valid for 12 months.