Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

COMMON SHARES

v3.7.0.1
COMMON SHARES
12 Months Ended
Mar. 31, 2017
COMMON SHARES  
COMMON SHARES

(14)   COMMON SHARES

 

The Company’s board of directors approved a share repurchase program on November 1, 2012 to repurchase up to USD 5.0 million worth of its issued and outstanding American Depository Shares (“ADS”) in both open-market and privately negotiated transactions. On January 31, 2013, the Company’s board of director reviewed and approved the continuation of the share repurchase program through May 31, 2013. The Company’s board of directors approved a share repurchase program on August 5, 2014 to repurchase up to USD 5.0 million worth of its issued and outstanding ADSs in open-market through January 31, 2015. The Company’s board of directors approved a share repurchase program on September 24, 2015 to repurchase up to USD 3.0 million worth of its issued and outstanding ADSs in open-market through March 31, 2016. For the years ended March 31, 2015, 2016 and 2017, the Company repurchased 612,314, 1,134,264 and nil common shares at a repurchase price of RMB 8,362,136, RMB 19,536,028 and RMB nil, respectively.