Guangzhou Development Group Incorporated (SHSE:600098) announces a share repurchase program. Under the program, the company will repurchase up to 200,000,000 Class A shares, representing 7.29% at a price of up to CNY 4.9 per share for CNY 980 million. The shares will be repurchased by means of auction trading. The program is subject to approval at the Shareholders' Meeting to be held on February 14, 2014. The shareholders can exercise their voting rights through the trading system of the Shanghai Stock Exchange.

On February 23, 2014, the company announced that the program will be valid for six months.