Sany Heavy Industry considers share buyback amid confidence

Sany Heavy Industry Co., Ltd. is considering a share buyback program following a proposal from Chairman Xiang Wenbo. The company aims to repurchase shares via centralized bidding, using either proprietary or self-raised funds. The proposed buyback value ranges from RMB 1 billion to RMB 2 billion. The repurchase is intended for employee stock ownership plans, with any remaining shares to be canceled after 36 months. The buyback price will not exceed 150% of the average share price in the 30 trading days before the board's resolution. The company will now undertake the necessary procedures to evaluate and implement a feasible buyback plan, keeping investors informed via timely disclosures. Chairman Xiang Wenbo committed to voting in favor of the buyback proposal at the board meeting.