Movement Alert｜VGT Intraday Rise 3.18% in Regular Trading, Chair Proposes Up to 300 Million Yuan A-Share Buyback

Market Focus10-20

On October 20, VGT rose 3.18% in Regular Trading, trading at HK$157.3, with turnover of HK$110 million.

The move followed the company’s disclosure that its actual controller and chair, Chen Tao, proposed a repurchase of A shares worth between 150 million yuan and 300 million yuan.

According to the filing background, the buyback would be conducted via centralized bidding, with the repurchase price capped at no more than 150% of the average trading price over the 30 trading days before board approval. The repurchased shares are intended entirely for an employee stock ownership plan or equity incentives, and the board said it will review the specific proposal as soon as possible. After a recent share-price pullback, the proposal signaled management’s recognition of the company’s long-term value.

(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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