Weichai Power (02338) plans to split Weichai Revo and list it on the main board of the Hong Kong Stock Exchange

Zhitong Finance App News, Weichai Power (02338) announced that the company plans to split the shares of Weichai Loewo, a non-wholly-owned subsidiary of the Group, through a global sale and list it independently on the main board of the Hong Kong Stock Exchange.

On June 20, 2025, Weichai Leiwo submitted a listing application to the Hong Kong Stock Exchange through its sole sponsor to apply for the listing and trading of Weichai Loewo's shares on the main board of the Hong Kong Stock Exchange.

Weichai Leiwo and its subsidiaries are mainly engaged in intelligent agricultural machinery equipment and smart agriculture business, that is, along the entire agricultural production, cultivation, management, harvesting and drying industry chain, involving R&D, manufacturing and sales services of intelligent agricultural machinery equipment and the supply of smart agricultural solutions. The main products are tractors and various types of harvesting machinery and equipment.

The board of directors of the Company believes that the listing of Weichai Leiwo shares on the main board of the Hong Kong Stock Exchange is in line with the government's policy direction on enhancing the core competitiveness of state-owned assets and enhancing international influence. The proposed spin-off and listing will enable Weichai Leiwo to seize opportunities for deepening capital market reforms, and will provide Weichai Leiwo with the opportunity to directly enter the capital market, diversify its financing channels and improve its operating capacity, thereby bringing stable returns to its investors and contributing to its sustainable development. Furthermore, it is expected that the proposed spin-off and listing will enhance Weichai Leiwo's influence in the market and strengthen its competitive advantage and position in the market. It will also help Weichai Leiwo achieve the strategic goal of building a leading global brand in the smart agricultural technology industry. Since the Company will continue to be the holding company of Weichai Leiwo after the proposed spin-off and listing, the above expectations will increase the overall value of the Group, which in turn will further add value to the overall interests of the Company's shareholders.