Befar Group Co.,Ltd (SHSE:601678) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its hares. The shares will be repurchased at a price not more than CNY 8 per share.

The repurchases will be funded using company's own funds. The company will repurchase its shares as part of the employee stock ownership plans. The program will be valid for 12 months.