Movement Alert｜KINWONG Intraday Rise 3.8% in Regular Trading, buyback proposal and strong third-quarter outlook remained in focus

Market Focus10-20 09:49

On October 20, KINWONG recorded an Intraday Rise of 3.8% in Regular Trading, trading at HK$73.05 with turnover of HK$52.49 million.

The most relevant disclosed catalyst was the chairman’s proposal to repurchase A shares worth RMB50 million to RMB100 million for equity incentives and or an employee stock ownership plan, funded by internal or self-raised capital, a move framed as reflecting confidence in the company’s long-term development and value.

Supporting that backdrop, the company had earlier guided for third-quarter attributable net profit of RMB912 million to RMB1.089 billion, up 205.46% to 264.74% year on year, with revenue expected at RMB6.12 billion to RMB6.98 billion, up 53.48% to 75.05%. The company also said orders in AI servers, data centers and high-speed optical modules were strong, with high utilization and yield, while the next earnings release is scheduled for October 26.

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