Changzhou Qianhong Biopharma CO.,LTD (SZSE:002550) announces a share repurchase program. Under the program, the company will repurchase up to CNY 170 million worth of its shares. The shares will be repurchased at a price not more than CNY 6.8 per share.

The shares repurchased are intended to be used for equity incentives or employee stock ownership plans. The company plans to use its own funds to repurchase its shares. The authorization will be valid for a period of 12 months.