China Automotive announces $5M share repurchase program

China Automotive (CAAS) announced that its board of directors approved a share repurchase program of up to $5M of its outstanding common shares periodically over the next 12 months. Repurchases will be made in open market transactions, at prevailing market prices not to exceed $5.50 per share through November 15, 2025, subject to applicable laws, regulations and approvals. The timing of the share repurchases will depend on a variety of factors, including market conditions. Members of the management team may make additional share purchases in addition to the company repurchase.