Qingdao NovelBeam Technology Co.,Ltd. (SHSE:688677) announces a share repurchase program. Under the program, the company will repurchase up to CNY 50 million worth of shares. The shares will be repurchased at a price of not more than CNY 69 per share.

The shares purchased will be used to implement employee stock ownership plans or equity incentives. The source of funds for the share repurchase is the company's own funds. The program will be valid for 12 months.