Shenzhen Newway Photomask Making Co., Ltd (SHSE:688401) announces a share repurchase program. Under the program, the company will repurchase up to CNY 80 million worth of its A shares. The shares will be repurchased at a price not more than CNY 46.51 per share.

The repurchases will be funded from the company?s initial public offering of RMB ordinary shares. The repurchased shares will be used for ESOP or equity incentives. The authorization will be valid for a period of 12 months.