Xi'an Manareco New Materials Co.,Ltd (SHSE:688550) announces a share repurchase program. Under the program, the company will repurchase up to CNY 80 million worth of its Class A shares. The shares will be repurchased at a price of not more than CNY 51 per share.

The repurchased shares will be used for employee stock ownership plans or equity incentives. The program is valid for 12 months.