Weichai Power (02338.HK) subsidiary plans to carry out financial leasing business.

Zhixin Financial APP News, Weichai Power (02338.HK) announced that, in order to accelerate capital recovery and reduce operating risks for the operation and development needs of its controlling subsidiary Weichai Lovol Intelligent Agricultural Technology Co., Ltd. (referred to as "Weichai Lovol") and its subsidiaries, Weichai Lovol and its subsidiaries plan to collaborate with Huibin Financial Leasing Co., Ltd., Industrial and Commercial Bank of Thailand Leasing Co., Ltd., etc. (collectively referred to as "leasing companies"). These companies, as financing leasing companies with the corresponding business qualifications, provide financing leasing services and some entrusted payment services for customers with good credit, who meet the financing conditions after verification, and have no related relationship with the company, Weichai Lovol, and its subsidiaries. If customers default during the performance of the financing leasing contract, Weichai Lovol and its subsidiaries will assume the repurchase guarantee responsibility for the customers according to the contract.