Zhejiang Fenglong Electric Co., Ltd. (SZSE:002931) announces a share repurchase program. Under the program, the company will repurchase up to CNY 80 million worth of its shares. The shares will be repurchased at a price not more than CNY 16 per share. The repurchases will be funded using company's own funds. The shares repurchased will be used for the implementation of equity incentives or employee stock ownership plans. The program will be valid for 12 months.