Zhejiang Tianyu Pharmaceutical Co., Ltd. (SZSE:300702) announces a share repurchase program. Under the program, the company will repurchase up to CNY 50 million worth of its shares. The shares will be repurchased at a price not more than CNY 31.3 per share.

The repurchased shares will be used for employee stock ownership plan or equity incentives and if company fails to use the repurchased shares then shares will be cancelled. The shares will be repurchased from company's own funds. The authorization will be valid for a period of 6 months.