Weichai Power (02338.HK): Controlling Shareholder Weichai Group Plans to Increase A-Share Holdings by RMB 200M–400M; Obtains RMB 360M Special Loan from Bank of China

NewTimeSpace · 2026/07/21 21:54 · By Xuran Lin

NewTimeSpace News: On July 21, Weichai Power announced that its controlling shareholder Weichai Holding Group plans to increase its holdings of the Company's A shares through centralized competitive bidding on the Shenzhen Stock Exchange within 6 months from the date of disclosure, using a combination of special share purchase loans and own funds, with an increase amount of no less than RMB 200 million and no more than RMB 400 million, without setting a price range. Bank of China Weifang Branch has committed to providing a special share purchase loan of no more than RMB 360 million with a term not exceeding 36 months, with the remaining funds coming from Weichai Group's own funds. Weichai Group currently holds 1,422,550,620 A shares of the Company and commits not to reduce its holdings during the purchase period and within the statutory period. This share purchase will not result in the Company's equity distribution failing to meet listing conditions, will not trigger a tender offer, and will not result in changes to the controlling shareholder or actual controller.

NewTimeSpace News: Weichai Power Co., Ltd. (stock code: 2338.HK / 000338.SZ) announced on July 21 the plan of its controlling shareholder to increase its holdings of the Company's A shares.

The Company's controlling shareholder, Weichai Holding Group Co., Ltd. ("Weichai Group"), plans to increase its holdings of the Company's A shares through centralized competitive bidding transactions on the Shenzhen Stock Exchange within 6 months from the date of disclosure of this announcement, using a combination of special share purchase loans and its own funds. The increase amount shall be no less than RMB 200 million and no more than RMB 400 million. This share purchase plan does not set a price range; Weichai Group will implement the plan based on its reasonable judgment of overall capital market trends and the value of the Company's shares.

Regarding the special share purchase loan commitment letter: Bank of China Weifang Branch has committed to providing Weichai Group with a special share purchase loan of no more than RMB 360 million, with a loan term not exceeding 36 months.

Basic information of the planned purchasing entity: As of the date of this announcement, Weichai Group holds 1,422,550,620 A shares of the Company. Weichai Group has not disclosed any share purchase plan in the 12 months prior to this announcement, and has not reduced its shareholdings in the Company within the 6 months prior to this announcement.

The purpose of this proposed share purchase is based on confidence in the Company's future development prospects and recognition of its long-term investment value, to enhance investor confidence and protect the interests of investors. The proposed share purchase price does not set a price range; Weichai Group will implement the plan based on its reasonable judgment of overall capital market trends and the value of the Company's shares. The implementation period of this share purchase plan is within 6 months from the date of disclosure of this announcement, subject to compliance with relevant regulations of the China Securities Regulatory Commission and the Shenzhen Stock Exchange. The proposed method of share purchase is through centralized competitive bidding transactions on the Shenzhen Stock Exchange trading system. This share purchase adopts a combination of special share purchase loans and own funds; apart from the above loan, the remaining funds required for this share purchase will be Weichai Group's own funds. This share purchase is not based on the specific identity of the purchasing entity, and will continue to be implemented even if such identity is lost. There is no lock-up arrangement for shares purchased in this increase.

Weichai Group commits not to reduce its holdings of the Company's shares during the purchase period and within the statutory period, and to complete the share purchase plan within the above implementation period.

There is a risk that this share purchase plan may fail to meet expectations due to changes in the capital market and factors that cannot currently be foreseen. This share purchase plan complies with the relevant provisions of the "Company Law of the People's Republic of China," "Securities Law of the People's Republic of China," "Measures for the Administration of Listed Company Acquisitions," "Shenzhen Stock Exchange Stock Listing Rules," and "Shenzhen Stock Exchange Self-Regulatory Guideline No. 10—Share Change Management" and other laws, regulations, and normative documents. The implementation of this share purchase plan will not result in the Company's equity distribution failing to meet listing conditions, will not trigger a tender offer, and will not result in changes to the Company's controlling shareholder or actual controller.

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WEICHAI POWER 02338.HK