On 26 March 2026, Weichai Power’s board approved the repurchase and cancellation of 21.92 million granted but un-unlocked A-share restricted shares, after the company failed to meet the performance criteria for the second unlocking period of its A-share Restricted Share Incentive Scheme.

The 2025 audited results showed revenue of RMB231.80 billion, marginally above the RMB231.20 billion target, but the profit margin (excluding share payments) reached only 7%, below the required 9%. Under scheme rules, all restricted shares scheduled for unlocking must be repurchased if targets are not met.

Repurchase terms • Quantity: 21,924,000 A shares, equal to 28.01% of all restricted shares granted and 0.2516% of current share capital. • Price: RMB4.894 per share, the lower of the preset price or prevailing market price. • Total outlay: RMB107.30 million, financed entirely from internal resources.

Post-transaction share structure • Total issued shares will fall from 8,712,397,096 to 8,690,473,096. • A-share count will drop by the cancelled amount to 6,747,433,096, representing 77.64% of outstanding shares; H shares remain unchanged at 1,943,040,000 (22.36%).

Company impact Management stated the transaction complies with PRC regulations, carries no material effect on financial position or operations, and will not hinder managerial responsibilities. Legal counsel confirmed all necessary approvals and procedural requirements are in place, with capital reduction filings and disclosures to follow.