Weichai Power Co ( (HK:2338) ) has provided an announcement.
Weichai Power Co., Ltd. has announced a proposal to repurchase a portion of its A shares through centralized price bidding on the Shenzhen Stock Exchange. This move, proposed by the Chairman of the Board, Mr. Ma Changhai, aims to demonstrate confidence in the company’s future prospects, protect shareholder interests, and strengthen market confidence. The repurchased shares will be canceled to reduce the company’s capital, with the repurchase funded by self-owned or self-raised funds, amounting to RMB500 to 1,000 million. The proposal is subject to approval by the board and shareholders, with the repurchase period set within 12 months of approval.
More about Weichai Power Co
Weichai Power Co., Ltd. is a joint stock limited company incorporated in the People’s Republic of China. It operates in the manufacturing industry, primarily focusing on the production of engines and related components. The company is listed on the Shenzhen Stock Exchange and is known for its significant presence in the power equipment sector.
YTD Price Performance: 21.97%
Average Trading Volume: 2,990
Technical Sentiment Signal: Hold
Current Market Cap: $16.81B
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