Contemporary Amperex Technology Co.,Ltd. (CATL) (SZSE: 300750) has announced a significant share buyback plan. The company intends to repurchase up to RMB 40 billion worth of its A-shares, using its own funds or self-raised capital.

The repurchase, which will be conducted through centralized bidding, has a maximum price limit of RMB 573 per share. The total funds allocated for this program will be no less than RMB 20 billion and no more than RMB 40 billion.

All shares acquired under this buyback scheme will be canceled, which will reduce the company's registered capital. The buyback period will last for 12 months, beginning from the date the plan is approved by the company's shareholders' meeting.