Weichai Power (02338) intends to further repurchase and cancel 300,000 restricted shares.

Weichai Power (02338) announced that on December 30, 2024, as eight incentive recipients experienced job transfers or resignations as stipulated in the incentive plan, the board of directors has approved a proposal to repurchase and cancel a total of 1.59 million restricted shares held by these incentive recipients that have been granted but not yet released from restriction. This proposal must be approved by a special shareholder meeting and a class shareholder meeting. Due to an additional incentive recipient experiencing a job transfer, the board of directors approved a proposal to repurchase and cancel all 300,000 restricted shares held by this additional incentive recipient that have been granted but not yet released from restriction on January 10, 2025. The compensation committee also approved this matter on January 7, 2025.