Sinomag Technology Co., Ltd. (SZSE:300835) announces a share repurchase program. Under the program, the company will repurchase up to CNY 80 million worth of its A shares. The shares will be repurchased at a price not more than CNY 45 per share.

The repurchased shares will be used for the implementation of employee stock ownership plans or equity incentives. The company will repurchase shares with its own funds. The program will be valid for a period of 12 months.