Weichai Power (SHE:000338, HKG:2338) slashed the buyback price for restricted shares under an incentive scheme to 5.252 yuan apiece from 5.599 yuan per share previously on Wednesday, a same-day Hong Kong bourse filing said.

Shares of the diesel engine manufacturer were up 1% in Thursday afternoon trading.

On the same day, the board approved the proposed repurchase and cancellation of all 820,000 granted but not unlocked restricted shares held by eight participants for over 4.3 million yuan plus accrued interest.

The approval is due to the participants undergoing re-designation, retirement or resignation.