Movement Alert|HUAQIN Rises 3.14% in Regular Trading, Completion of RMB 200M A-Share Buyback Paired with Q3 Super-Node Mass Shipment Expectations

Market Focus09-02

On September 2, HUAQIN rose 3.14% in regular trading, trading at HKD 78.7/share, with turnover of HKD 12.18 million.

On the news front, the company announced the completion of its A-share buyback program, having repurchased a cumulative 2.6195 million shares at a total cost of approximately RMB 200 million. The repurchased shares are intended for equity incentive plans or employee stock ownership programs. The buyback was approved on July 20 with a budget ceiling of RMB 200 million and was fully executed by August 31 via centralized bidding on the Shanghai Stock Exchange.

Meanwhile, the company's interim results revealed robust growth, with H1 revenue reaching RMB 93.719 billion, up 11.65% year-over-year, and net profit attributable to shareholders surging 58.8% to RMB 3.0 billion. Q2 standalone net profit jumped 85.2% year-over-year. Management confirmed that super-node products will begin mass shipments in Q3 with second-half revenue expected to exceed RMB 10 billion. The data center segment is projected to grow 50% for the full year, surpassing RMB 60 billion, while full-year group revenue is targeted above RMB 200 billion.

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