Zhejiang Taihua New Material Co.,Ltd (SHSE:603055) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its A shares. The shares will be purchased at a price not exceeding CNY 13.93 per share.

The repurchased shares will be used for ESOP or equity incentives. The program will be funded from company's own funds. The program will be valid for 12 months.