On July 16, Lingyi iTech rose 3.11% in regular trading, trading at HKD 7.29, with turnover of HKD 38.05 million, extending the previous session's late rebound momentum.
On the news front, the company significantly accelerated its A-share buyback on July 15, repurchasing 6.23 million shares for approximately RMB 80.04 million at prices ranging from RMB 12.69 to RMB 13.01 per share — roughly ten times the prior day's buyback volume of 630,700 shares worth RMB 7.94 million. The aggressive increase in buyback activity is widely interpreted as a strong signal from management to defend the current valuation.
The stock had previously come under pressure after the company announced on July 10 a plan to invest up to RMB 4 billion in the restructuring of Futong Jiashan to enter the fiber optic communications sector, which triggered a limit-down on A-shares on July 13 and concurrent H-share declines. The H-share has traded below its IPO price of HKD 10.18 since listing on June 26.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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