Shandong Mining Machinery Group Co., Ltd. (SZSE:002526) announces a share repurchase program. Under the program, the company will repurchase up to CNY 49.5 million worth of shares. The shares will be repurchased at a price of not more than CNY 3.30 per share.

The repurchased shares will be used for implementation of equity incentives or employee stock ownership plans. The program will be valid for a period of 12 months.