XCMG Construction Machinery repurchases shares for cancellation and incentives

XCMG Construction Machinery, under stock code 000425, announced significant progress in its share repurchase programs by December 2, 2025. The company's board approved two distinct repurchase plans, one for share cancellation and another for equity incentives or employee stock ownership.

For the share cancellation plan, approved on April 26, 2025, and May 27, 2025, the company allocated up to 600m yuan (not less than 300m yuan) with a maximum repurchase price of 13 yuan per share. Following a 2024 dividend distribution on July 9, 2025, the maximum price was adjusted to 12.83 yuan per share. As of November 30, 2025, XCMG Construction Machinery had cumulatively repurchased 36,419,003 shares, representing 0.31% of its total share capital, at an average price of 8.24 yuan per share, totaling 299,972,235.17 yuan.

Concurrently, a separate repurchase program for equity incentives or employee stock ownership, approved on April 8, 2025, authorized up to 3.6bn yuan (not less than 1.8bn yuan) with a maximum price of 13 yuan per share, later adjusted to 12.83 yuan per share. By November 30, 2025, the company had acquired 314,577,416 shares for this purpose, accounting for 2.68% of its total share capital, with an average price of 8.74 yuan per share, amounting to 2,749,792,819.22 yuan. Both repurchase initiatives comply with relevant regulations and will continue based on market conditions.