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Weichai Power to Initiate Entrusted Wealth Management Activities

Stock News
Jul 03

Weichai Power Co.,Ltd. (ASX: 000338) has announced its intention to commence entrusted wealth management operations. The move aims to enhance the efficiency of capital utilization and boost returns on funds.

The company plans to utilize its idle proprietary capital for these activities, provided they do not disrupt normal business operations. This strategy is expected to increase returns on the company's cash assets and generate greater value for both the company and its shareholders.

The approved investment amount for this initiative is capped at 8 billion Chinese yuan. This quota will be available for revolving use within a 12-month period following the expiry date of the previously board-approved quota, which is July 4, 2026.

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