Buyback

Leapmotor's founder bought about HK$230 million worth of company shares, marking management's fifth stake increase in two years.

Li Auto unveiled a $1 billion share repurchase program, marking its first buyback since its US listing in July 2020.

CATL bought back RMB 254 million of its shares today, the first of its latest share buyback program.

The number of shares BYD plans to buy back is about 0.05 percent of its total issued share capital and will be used for cancellation to reduce registered capital.

BYD chairman Wang Chuanfu doubled the amount of his proposed buyback of the company's shares in the A-share market to RMB 400 million from RMB 200 million and will be used to reduce registered capital.

The proposal is based on Wang Chuanfu's confidence in China's NEV industry and the company's prospects, as well as his recognition of BYD's value to boost investor confidence, BYD said.

The move is based on Gotion's controlling shareholder's recognition of the company's value and confidence in its continued rapid growth, according to an exchange announcement.

BYD raised its buyback price ceiling last week as the share price rose faster than it could execute the buyback plan.

BYD previously announced a buyback price cap of RMB 300, but its shares have risen 40 percent in the past month to about RMB 330.

BYD's Shenzhen-traded shares closed today at RMB 299.98, near the upper limit of the company's planned buyback price.