Allied Machinery Co., Ltd. (SHSE:605060) announces a share repurchase program. Under the program, the company will repurchase up to CNY 60 million worth of its shares. The repurchase price will not be more than CNY 23 per share.

The purpose of program to maintain the value and shareholder rights. The repurchases will be funded using company?s own funds. The repurchase period will not be more than 12 months.