Wei Long Grape Wine Co., Ltd. (SHSE:603779) commences a share repurchases on January 18, 2019, under the program mandated by the shareholders in the Extraordinary General Meeting held on November 14, 2018. As per the mandate, the company is authorized to repurchase up to 5,000,000 shares, representing 2.18% of its issued share capital for CNY 100 million. The shares will be repurchased at a price not more than CNY 20 per share. The shares repurchases will be used for equity incentive plans, ESOP, or reduction of share capital. The plan will be valid for 6 months from the date of approval of shareholders meeting.