Shandong Daye Co., Ltd. (SHSE:603278) announces a share repurchase program. Under the program, the company will repurchase up to CNY 40 million worth of its shares. The repurchase price will not more than CNY 10 per Share.

The repurchased shares will be used for employee stock ownership plan or equity incentives. The repurchases will be funded using company's own funds or self-raised funds. The repurchase period will be not more than 6 months.