On July 22, Jiaxin International Resources rose 7.25% in regular trading, trading at HK$56.4/share, with turnover of HK$58.72 million.
On the news front, the company recently announced its H2 share buyback plan, committing up to HK$200 million for open market repurchases. The company has already executed buybacks of 100,000 shares on July 20 and 50,000 shares on July 21, spending approximately HK$6.96 million in total. The board stated that the buyback plan demonstrates firm confidence in the company's intrinsic value and long-term prospects, and will help optimize capital structure and enhance shareholder returns.
The buyback catalyst is further reinforced by the company's earlier positive profit alert issued on July 10, forecasting H1 net profit attributable to equity holders of approximately HK$14.5 billion to HK$15.5 billion, a significant turnaround from a net loss of HK$6 million in the same period last year. The profit surge is primarily driven by commercial tungsten concentrate mining operations and substantially higher average selling prices for tungsten concentrate.
(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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