XCMG announces progress on share repurchase for cancellation

XCMG Construction Machinery (SZSE:000425) has announced an update regarding its previously approved plan to repurchase company shares for cancellation. The initiative, approved by the board and shareholders in April and May 2025 respectively, aims to bolster investor confidence and enhance the company's capital market image. The company intends to use its own funds for the repurchase, with a total repurchase amount not exceeding CNY 60,000,000 (inclusive) and not less than CNY 30,000,000 (inclusive). The repurchase price will not exceed CNY 13 per share. The repurchased shares will be used to reduce the company's registered capital and will be canceled within ten days of repurchase completion. As of May 31, 2025, XCMG has not yet executed any share repurchases due to the ongoing creditor notification period. The company says it will proceed with the repurchase within the approved timeframe and will continue to disclose relevant information.