Hong Kong Stocks Surge | TANWAN (09890) Rises Over 7% in Afternoon Trading Amid Share Buybacks and Collaboration with Kingnet Network

Stock News10-22

TANWAN (09890) saw a notable rise of over 7% in afternoon trading, and as of the latest update, the stock was up 5.06% at HKD 15.17, with a trading volume of HKD 75.5 million. The company recently announced that on October 20, it repurchased 228,200 shares for a total amount of HKD 3.13 million. It is reported that TANWAN has been actively repurchasing shares for five consecutive days since October 14. To date, the company has conducted 30 buybacks this year, acquiring a total of 7.37 million shares for a cumulative amount of HKD 102 million. Notably, in August of this year, Jiangxi TANWAN Information Technology Co., Ltd., under Zhongxu Future, and Hangzhou Tianqiong Interactive Network Technology Co., Ltd. deepened their business cooperation, acquiring licenses for two classic IPs, "Hot Blood Legend" and "Legend World." Additionally, they signed a cooperation agreement with Zhejiang Kingnet Interactive Entertainment Technology Co., Ltd., a subsidiary of Kingnet Network, officially entering the gaming box section operated by Kingnet. This partnership is not only an extension of the long-term collaboration between Zhongxu Future (TANWAN) and Kingnet Network but also represents a comprehensive upgrade of the legend IP ecosystem.

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