Weichai Power's Subsidiary Plans to Launch Financial Leasing Business

Deep News12-22 08:40

Weichai Power (02338) announced that its subsidiary, Weichai Lovol Intelligent Agricultural Technology Co., Ltd. ("Weichai Lovol"), and its affiliates intend to collaborate with financial leasing companies, including Huiyin Financial Leasing Co., Ltd. and ICBC Thailand Leasing Co., Ltd., to meet operational development needs. The move aims to accelerate capital recovery and mitigate business risks.

These leasing partners, which are qualified financial leasing providers, will offer leasing services and partial entrusted payment solutions to creditworthy, approved clients with no affiliation to Weichai Power or Weichai Lovol. Should clients default on leasing agreements, Weichai Lovol and its affiliates will assume repurchase guarantee obligations as stipulated in contracts.

On December 19, 2025, Weichai Power’s board approved the proposal for the subsidiary’s financial leasing operations. Agreements were signed, authorizing Weichai Lovol to provide repurchase guarantees with a maximum daily liability cap of RMB 4 billion. The guarantee facility will remain effective from January 1, 2026, to December 31, 2026. Weichai Lovol’s management is also empowered to execute related legal documents and handle associated matters.

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