Rongxin Education and Culture Industry Development Co., Ltd. (SZSE:301231) announces a share repurchase program. Under the program, the company will repurchase up to CNY 12 million worth of its shares. The shares will be repurchased at a price not more than CNY 38 per share.

The repurchased share will be used for employee stock ownership plan and equity incentives. The program will be valid for a period of 12 months.