Beijing Vantone Real Estate Co., Ltd. (SHSE:600246) announces a share repurchase program. Under the program, the company will repurchase up to CNY 300 million worth of its class A ordinary shares. The shares will be repurchased at a price not more than CNY 10.93 per share.

The repurchases will be funded using company's own funds. The shares repurchased will be used for employee stock ownership plans or equity incentives and if the shares are not utilized within 3 years from the date of share repurchase results the unused shares will be cancelled. The program will be valid for 12 months.