Shaoxing Xingxin New Material Co.,Ltd (SZSE:001358) announces a share repurchase program. Under the program, the company will repurchase its A shares for a total of CNY 50 million. The shares will be purchased at a price not exceeding CNY 26 per share.

The repurchased shares will be used for the implementation of ESOP or equity incentive plan. The program will be funded from company's own funds. The program will be valid for 12 months.