Elite Color Environmental Resources Science & Technology Co., Ltd. authorizes a Buyback Plan.

Elite Color Environmental Resources Science & Technology Co Ltd is a China-based company mainly engaged in the research and development, production and sales of polyester fiber and its products. The Company's main products include recycled colored polyester staple fiber, low melting point polyester staple fiber and polyester non-woven fabrics. Its products are mainly used in engineering, carpets, automotive interiors, clothing and home textiles, furniture, automotive interiors and medical hygiene. The Company conducts its businesses within the China market and to overseas markets.