Hangzhou Weiguang Electronic Co.,Ltd. (SZSE:002801) announces a share repurchase program. Under the program, the company will repurchase up to CNY 80 million worth of its A shares. The shares will be repurchased at a price of CNY 39.5 per share.

The shares repurchased will be used for equity incentives or employee stock ownership plans. The source of funds for the share repurchase is the company's own funds. The authorization will be valid for a period of 12 months.