Weichai Power Co ( (HK:2338) ) has provided an announcement.
Weichai Power Co., Ltd. has announced the approval of an A Share Repurchase Plan, intending to repurchase a portion of its A shares through centralized price bidding on the Shenzhen Stock Exchange. This plan, aimed at reducing the company’s capital, is designed to bolster shareholder confidence and reflect the company’s positive outlook on its future development. The repurchase will be conducted within a 12-month period, with a budget of RMB500 million to 1,000 million, and the repurchased shares will be canceled to decrease the company’s capital.
More about Weichai Power Co
Weichai Power Co., Ltd. is a joint stock limited company incorporated in the People’s Republic of China, operating within the manufacturing industry. The company primarily focuses on the production of diesel engines, powertrain systems, and related components, serving a broad range of markets including automotive, marine, and power generation sectors.
YTD Price Performance: 32.24%
Average Trading Volume: 2,422
Technical Sentiment Signal: Strong Sell
Current Market Cap: $17.83B
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