XD INC Shares Surge Over 7% in Session Following 15 Consecutive Days of Share Buybacks

Deep News07-07

XD INC (02400) saw its shares rise more than 7% during the trading session. By the time of writing, the gains had moderated, with the stock up 3.50% to HK$49.04, with a turnover of HK$140 million.

According to a company announcement, on July 6, XD INC repurchased 136,400 shares at a cost of approximately HK$6.3682 million. Data indicates that since June 12, the company has conducted share buybacks for 15 consecutive days, totaling 2.5374 million shares repurchased with a cumulative expenditure of around HK$117 million.

Analysis from Western Securities highlighted the ongoing delivery of self-developed games across multiple genres. The firm noted that XD INC has successfully established two products with long-term potential: "XD Town" and "Torchlight: Infinite." Furthermore, the TapTap platform is continuously expanding its boundaries. It is not merely a distribution channel for mobile games but, more importantly, has built a comprehensive ecosystem infrastructure for developers, creating a closed-loop ecosystem. The integration of TapADN, TapTap PC, and TapTap Maker is seen as raising the platform's growth ceiling. The analysis expresses a positive outlook on the company's rare platform value and the enduring potential of its self-developed games.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment