Anhui Ankai Automobile Co., Ltd will seek shareholder approval for a share repurchase program at its Extraordinary General Meeting to be held on October 16, 2012. Under the plan, the company will repurchase up to 20,000,000 public shares, representing 2.84% of its total shares and 3.74% of its publicly traded shares, at the price of not higher than CNY 5.20 per share, for a total CNY 104 million. The company will repurchase shares by means of centralized bidding via Shenzhen Stock Exchange.

The company will cancel the repurchased shares to reduce registered capital after the purchase. The repurchase of its shares will be completed within 12 months from the date the share repurchase plan is reviewed and approved in the shareholders' meeting i.e., ending October 15, 2013.