Weichai Power (02338) plans to increase the capital of Shandong Heavy Industry Group Finance Co., Ltd. by 784 million yuan.

Weichai Power (02338) announced that on November 11, 2024, the existing shareholders of the Heavy Machinery Financial Company (including the company, Shaanxi Fast Gear (a subsidiary with a 51% stake held by the company), Shandong Heavy Industry, Weichai Heavy Machinery, and Shantui Construction Machinery) and Sinotruk Jinan Truck (Hong Kong) have entered into a capital increase agreement with the Heavy Machinery Financial Company. The existing shareholders of the Heavy Machinery Financial Company and Sinotruk Jinan Truck (Hong Kong) have agreed to provide a total capital increase of RMB 5.576 billion to the Heavy Machinery Financial Company. The total capital increase made by the Group according to the capital increase agreement is RMB 7.84 billion, with RMB 3.38 billion being used to increase the registered capital of the Heavy Machinery Financial Company and RMB 4.47 billion being used to increase the capital reserve of the Heavy Machinery Financial Company.