XCMG to repurchase shares for cancellation and capital reduction

XCMG Construction Machinery (SZSE:000425) announced its plan to repurchase company shares for cancellation, aiming to reduce registered capital and enhance shareholder value. The company will utilize its own funds, with a repurchase price not exceeding CNY13 per share, and a total repurchase amount between CNY30,000,000 and CNY60,000,000. The repurchase period will not exceed twelve months from shareholder approval. The repurchased shares will be used to reduce registered capital.