Stock Track | SERES Soars 5.18% Intraday on Dividend, Buyback Plan and Leadership Appointments

Stock Track04-23

SERES's stock surged 5.18% during intraday trading on Thursday, driven by a series of positive corporate announcements.

The company declared a final cash dividend of RMB0.80 per share (approximately HK$0.913 per H-share) to be paid in June, following the successful passage of all resolutions at its Annual General Meeting. Concurrently, SERES announced a significant share repurchase program, planning to buy back between RMB 1 billion and RMB 2 billion worth of its A-shares to enhance shareholder value and support the stock price.

Further bolstering investor confidence were the results of the AGM, which included the election of a new board of directors and the appointment of Zhang Xinghai as Chairman and Yin Xianzhi as President. The market sentiment was also supported by a bullish earnings preview, indicating expected revenue growth and positive institutional views ahead of the company's first-quarter results.

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