Maxic Technology, Inc. (SHSE:688458) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its shares. The shares will be repurchased at a price not more than CNY 40 per share.

The repurchased shares will be used to maintain the company's value and shareholders' interests. The repurchased shares will be sold. If the company fails to sell the shares within 3 years of completion of the program, the unsold shares will be cancelled.

The repurchases will be made from excess funds obtained from the company's initial public offering of RMB common shares. The authorization will be valid for a period of 3 months.