Weichai Power chairman proposes share buyback plan

Weichai Power (SZSE:000338) announced that Chairman Ma Changhai has proposed a share repurchase plan, driven by confidence in the company's future and a desire to enhance shareholder value. The buyback will utilize a centralized competitive bidding approach via the Shenzhen Stock Exchange, with the repurchased shares intended for cancellation to reduce registered capital. The proposed buyback amount is estimated between CNY500 million and CNY1 billion, subject to board and shareholder approval. The repurchase price will not exceed 150% of the average share trading price in the 30 trading days preceding the board's review. The buyback period will span 12 months following shareholder approval. The company said that it will proceed in compliance with all relevant regulations, and the proposed buyback remains subject to shareholder approval.