Maxic Technology, Inc. (SHSE:688458) announces a share repurchase program. Under the program, the company will repurchase up to CNY 60 million worth of its shares. The shares will be repurchased at a price not more than CNY 75 per share.

The repurchased shares will be used for employee stock ownership plan or equity incentives and if company fails to use repurchased shares then it will be cancelled. The repurchases will be made from super-raised funds. The authorization will be valid for a period of 12 months.