Fujian Longma Environmental Sanitation Equipment Co., Ltd. (SHSE:603686) announces a share repurchase program. Under the program, the company will repurchase up to CNY 150 million worth of class A ordinary shares. The shares will be repurchased at a price of not more than CNY 24.62 per share and will not be higher than 150% of the average trading price of the company's stock in the 30 trading days before the board of directors passed the repurchase resolution. The program will be funded out of the company's own sources. The purpose of the program is to to reflect the company’s confidence in the future development prospects and recognition of the company’s value so that investors can have a clearer understanding of the company’s long-term intrinsic value, and to enhance investors’ confidence in the company’s investment and effectively combine the interests of shareholders, the company and the core team. The repurchased shares will be used for equity incentives or the employee stock ownership plan and the unused part will be cancelled. The program is valid till earlier of 12 months from the date of approval by the Board or when the number of shares repurchased reaches the maximum limit within the period, unless terminated by the Board.