Anhui Jianghuai Automobile (SHA:600418), or JAC Motors, plans to repurchase shares worth between 50 million yuan and 100 million yuan, according to a Shanghai bourse filing on Wednesday.
The share buyback will be implemented within three months after shareholders' approval.
The repurchased shares, which will be bought back for up to 64 yuan per share, will be cancelled.
The automaker's shares rose 2% during the afternoon trade.