Tongling Jingda Special Magnet Wire Co., Ltd. (SHSE:600577) announces a share repurchase program. Under the program, the company will repurchase up to CNY 150 million worth of its shares. The shares will be purchased at a price not exceeding CNY 6.73 per share.

The purpose of the program is to recognition of intrinsic value, and at the same time to safeguard the interests of investors, enhance investor confidence, and promote the company's long-term healthy development, after comprehensive consideration of the company's operating and financial conditions, equity distribution and development strategies, etc. The repurchased shares will be used for employee stock ownership plans or equity incentive plans, otherwise will be cancelled if the company fails to transfer them. The program will be funded from company's own funds.

The program will be valid for 12 months.