BYD, a prominent Chinese automaker, announced its plans to launch a series of “high-end luxury” models starting this year, according to a filing with the Hong Kong stock market.
The company, headquartered in Shenzhen, also stated its intention to develop a “reasonable and feasible” strategy for purchasing additional shares.
In a filing made last Sunday, BYD revealed that Chairman Wang Chuanfu had proposed a buyback of 200 million yuan ($27.8 million) worth of its A-shares in December of the previous year.
Following the Lunar New Year holidays, trading in BYD’s Shenzhen-listed shares resumed, closing up by 1.3% on Monday. However, its Hong Kong-listed shares experienced a slight decline, slipping by 1.9%.
