Bafang Electric (Suzhou) Co.,Ltd. (SHSE:603489) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its shares. The shares will be repurchased at a price not more than CNY 240 per share.

The repurchased shares will be used for equity incentives or employee stock ownership plans. The company will use its own funds to repurchase its shares. The program will be valid for a period of 6 months, until September 15, 2022.