HK Stock Market Move | Weichai Power (02338) rises more than 4%, controlling shareholder Weichai Group plans to increase its holdings of the company's A shares by no less than 200 million yuan.

Weichai Power (02338) rose more than 4%, up 4.35% at the time of writing, at HK$33.54, with a turnover of HK$52.9735 million. On the news front, on July 21st, Weichai Power announced that its controlling shareholder, Weichai Group, plans to increase its holdings of the company's A shares by using specialized loans and its own funds through centralized bidding transactions within 6 months of the disclosure of this announcement, with the amount of the increase not less than RMB 200 million and not more than RMB 400 million. The increase plan does not set a price range, and Weichai Group will implement the increase plan opportunistically based on the overall trend of the capital market and a reasonable judgment of the company's stock value.