Shaanxi Panlong Pharmaceutical Group Limited By Share Ltd (SZSE:002864) announces a share repurchase program. Under the program, the company will repurchase up to CNY 20 million. The shares will be repurchased at a price not more than CNY 45 per share.

The purpose of the program is to use the repurchased shares for the implementation of employee shareholding plan or as equity incentive. The plan will be valid for a period of 12 months.