On July 20, Lingyi iTech (01688.HK) rose 3.39% in regular trading, trading at HKD 6.54/share, with turnover of approximately HKD 14.55 million.
On the news front, the company's board approved a resolution on July 17 to double its A-share buyback fund from a maximum of RMB 400 million to RMB 800 million, with the floor raised from RMB 200 million to RMB 400 million. The buyback price cap remains unchanged at RMB 21.08 per share. Based on the adjusted upper limit, the company estimates it could repurchase approximately 37.95 million shares, representing 0.47% of total share capital.
As of July 17, the company had cumulatively repurchased approximately 29.06 million shares through centralized bidding, spending RMB 399 million at a price range of RMB 12.45 to RMB 14.43 per share. The doubling of the buyback quota signals management's recognition of the company's long-term intrinsic value, while continued secondary market repurchase activity provides near-term share price support.
(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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