Chairman Ma Changhai of Weichai Power (02338) proposed to repurchase 5 to 10 billion yuan worth of A-shares through centralized competitive bidding.

Weichai Power (02338) announced that the board of directors has received a proposal from Chairman Ma Changhai, proposing that the company repurchase A shares through the Shenzhen Stock Exchange trading system in a centralized bidding trading manner. The total amount of funds for repurchasing A shares is between 500 million and 1 billion RMB, subject to the specific repurchase plan approved by the board of directors and the shareholders' meeting. Based on confidence in the company's future development and assessment of the company's value, in order to protect the interests of all shareholders and enhance investor confidence, Chairman Ma Changhai proposed that the company repurchase some of its A shares through centralized bidding trading. The repurchased A shares are intended to be used for cancellation and reduction of the company's registered capital.