DualityBio-B Surges Nearly 5% in Morning Trading, Announces Up to $40 Million Share Buyback Plan

Deep News05-20 10:00

DualityBio-B (09606) saw its stock price rise over 6% during the trading session. At the time of reporting, the stock was up 4.83%, trading at HKD 225.80 with a turnover of HKD 97.17 million.

On May 19, DualityBio-B announced that its board intends to exercise the power granted under the general mandate approved by shareholders at the Annual General Meeting held on June 20, 2025. The company plans to repurchase its shares in the open market at an appropriate time. The share buyback program involves using up to USD 40 million for repurchases. The company will fund the repurchases with its internal resources and intends to hold the repurchased shares as treasury stock.

Furthermore, Dr. Zhongyuan Zhu, the company's founder, Chairman of the Board, Executive Director, and CEO, expressed confidence in the group's future development prospects and recognition of the company's long-term investment value. Subject to compliance with the Listing Rules and other applicable laws and regulations, Dr. Zhu plans to use personal funds to purchase additional company shares in the open market, with the total amount of the increase not exceeding USD 5 million.

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