Zhejiang RIFA Precision Machinery Co., Ltd. (SZSE:002520) commences share repurchases on November 27, 2018 under the program mandated by the shareholders in the Extraordinary General Meeting held on November 9, 2018. As per the mandate, the company is authorized to repurchase class A shares for not more than CNY 200 million. The shares will be purchased at a price not exceeding CNY 11 per share. The repurchase program will be funded from company's self-raised funds. The repurchased shares will be used for the implementation of equity incentive plan and ESOP. The repurchase program is valid for a period of 12 months from shareholders' approval.