Tianjin Zhonghuan Semiconductor Co., Ltd. (SZSE:002129) announces a share repurchase program. Under the program, the company will repurchase up to CNY 700 million worth of its shares. The shares will be repurchased at a price not more than CNY 62.96 per share.

The repurchased shares will be used for ESOP or equity incentive plans. Repurchases will be funded by company's own funds. The program is valid for a period of 12 months.