On June 29, JD Logistics rose 3.03% in regular trading, trading at HKD 11.94 per share, with turnover of approximately HKD 34.07 million. The rally was driven by the company's persistent and aggressive share repurchase program coupled with its annual general meeting convening the same day to approve a fresh buyback mandate.
On the news front, JD Logistics has conducted buybacks on nearly every trading day in June, with single-day amounts ranging from HKD 15 million to HKD 38 million. Specifically, the company repurchased 3.299 million shares for approximately HKD 38.02 million on June 25, and 2.153 million shares for approximately HKD 25.06 million on June 24. Since receiving its current authorization, the company has cumulatively repurchased over 46.63 million shares on the exchange. Simultaneously, the board proposed at the AGM held on June 29 a general mandate to repurchase up to 10% of issued share capital, equivalent to approximately 666 million shares based on the latest count of around 6.63 billion shares outstanding. The new authorization, if approved, would significantly expand the company's buyback capacity and signal continued management confidence in the stock's valuation.
(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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