Weichai Power (HKG:2338, SHE:000338) and Sinotruk Hydrogen Energy Vehicles Innovation Centre plan to raise the capital of joint venture company, Weichai New Energy Power Technology, by 589 million yuan, according to a Hong Kong bourse filing on Thursday.

The Chinese equipment maker's Hong Kong shares slipped 1% during Friday's morning trade.

Weichai will inject 412.3 million yuan and Sinotruk Hydrogen Energy, a unit of China National Heavy Duty Truck Group, will invest 176.7 million yuan into Weichai New Energy Power.

Weichai and Sinotruk's holdings in Weichai New Energy Power will remain at 70% and 30%, respectively, after the completion of the transaction.