Lanzhou Lishang Guochao Industrial Group Co.,Ltd (SHSE:600738) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its shares. The shares will be purchased at a price not exceeding CNY 8.32 per share.

The repurchased shares will be used for the implementation of ESOP. If the company fails to use the shares for the aforementioned purpose, then there is a risk that the repurchased but un-transferred shares will be cancelled. The program will be funded from company's own funds or self-raised funds.

The program will be valid for 12 months.