Movement Alert|XD Inc. Rises 5.29% in Regular Trading, Gaming Sector Earnings Optimism and Sustained Buybacks Lift Shares

Market Focus07-16 10:29

On July 16, XD Inc. rose 5.29% in regular trading, trading at HK$45.64/share, with turnover of approximately HK$67.62 million.

On the news front, multiple gaming companies recently released positive first-half earnings previews, with Century Huatong forecasting net profit growth of 61.87%-79.57% year-over-year and Youzu Networks projecting net profit growth of 298.76%-498.14%, fueling sector-wide valuation recovery sentiment. Concurrently, XD Inc. has conducted share buybacks for over 20 consecutive trading days since June 12, with cumulative repurchase exceeding HK$150 million. On July 15, the company spent approximately HK$7.76 million to repurchase 180,000 shares at prices ranging from HK$41.64 to HK$44.06 per share.

The sustained buyback program, authorized at the May 28 annual general meeting for up to 48.93 million shares, signals management confidence. Combined with the broader gaming sector rally driven by strong mid-year earnings expectations, investor sentiment toward XD Inc. has improved following recent pressure from a Citi target price downgrade to HK$70.

(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.)

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