Shanghai Lingyun Industries Development Co., Ltd (SHSE:900957) announces a share repurchase program. Under the program, the company will repurchase up to CNY 10 million worth of its shares. The shares will be repurchased at no more than $0.4 per share.

The purpose of the program is to safeguard the company's value and shareholders' rights. The repurchased shares will be sold through a centralized bidding transaction 12 months after the repurchase is completed. If the company fails to implement the above-mentioned purposes within 3 years after the completion of the share repurchase, the unused portion will be cancelled.

The program will be funded from company's own funds. The plan will be valid for 3 months.