Hengdian Group DMEGC Magnetics Co. ,Ltd (SZSE:002056) announces a share repurchase program. Under the program, the company will repurchase up to CNY 400 million worth of its shares.

The shares will be repurchased at a price not more than CNY 20 per share. The repurchased shares will be used to implement the company's equity incentive plan or employee stock ownership plan. Repurchases will be funded using company;s own funds.

The plan will be valid for 12 months.