HUITONGDA NET (ASX: 09878) shares experienced a significant rise approaching 7% in the morning session before midday.
At the time of writing, the stock was up 6.92% to HK$7.57, with a turnover of HK$1.7788 million.
Key Drivers for the Price Movement
The company's AI-powered digital product portfolio has recently undergone a new round of upgrades, achieving key progress both at the storefront and enterprise levels.
Specifically, the "AI-powered automatic review function for boosting consumption," targeted at retail outlets, has officially commenced operation.
Concurrently, the company has launched the new "LeapoAI Enterprise Intelligent Agent Collaboration Platform" for its corporate clients.
These developments signify the company's deepening efforts in two strategic areas: leveraging AI to empower retail in lower-tier markets and building enterprise-level intelligent infrastructure, thereby continuously strengthening its technological moat.
Recent Corporate Announcement
It is noteworthy that HUITONGDA NET recently issued an announcement stating that its board of directors, expressing confidence in the company's future development prospects and recognition of its long-term value, and aiming to safeguard shareholder interests and boost investor confidence, intends to exercise its authority to repurchase H-shares.
The board or its authorized persons plan to repurchase H-shares on the open market from time to time depending on market conditions, with the total repurchase amount not exceeding RMB 500 million.
The board believes that the share repurchase is in the overall interests of the company and its shareholders, demonstrating the confidence of the company and its management team in the future business prospects and long-term value of the company.
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