Gree Electric Appliances, Inc. of Zhuhai (SZSE:000651) announces a share repurchase program. Under the program, the company will repurchase up to CNY 3,000 million worth of its A shares. The shares will be purchased at a price not exceeding CNY 50 per share.

The repurchased shares will be used for employee stock ownership plans or equity incentive plans. The program will be valid for 12 months.