Lingyuan Iron & Steel Co., Ltd. (SHSE:600231) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of its shares. The shares will be purchased at a price not exceeding CNY 2 per share.

The purpose of the program is to maintain the company's value and shareholders' rights and interests and enhance investor confidence, the company intends to repurchase the company's shares. The repurchased shares will be used for equity incentive plans, otherwise will be cancelled if the company fails to transfer them within the time limit stipulated by relevant laws and regulations. The program will be funded from company's own funds.

The program will be valid for 6 months.