KINGSEMI Co., Ltd. (SHSE:688037) announces a share repurchase program. Under the program, the company will repurchase up to CNY 20 million worth of its shares. The shares will be repurchased at a price not more than CNY 150 per share.

The repurchased share will be used for employee stock ownership plan and equity incentives. The funds for the repurchases are the part of the over-raised funds obtained from the company?s initial public offering of RMB ordinary shares. The program will be valid for a period of 6 months.