Guangdong Fangyuan New Materials Group Co., Ltd. (SHSE:688148) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 150 million worth of its A shares. The shares will be repurchased at a price of not more than CNY 18.5 per share.

The repurchased shares will be used to convert corporate bonds issued by the company that can be converted into shares. The shares will be repurchased out of own funds of the company. The plan will be valid for 12 months from the Board of Directors' approval.