On July 21, Jiaxin International Resources rose 5.03% in regular trading, trading at HK$47.6/share, with turnover of HK$38.70 million.
On the news front, the company announced on July 20 that its board of directors has approved a share buyback plan for the second half of the year, committing up to HK$200 million in open-market repurchases. Based on the July 17 closing price of HK$43.66, the plan could cover approximately 1.01% of total issued shares. On the same day, the company repurchased 100,000 shares on the Hong Kong Stock Exchange at prices ranging from HK$44.58 to HK$45.96 per share, spending approximately HK$4.53 million. 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.
Additionally, the company recently issued a positive profit alert, forecasting H1 net profit attributable to shareholders of approximately HK$14.5 billion to HK$15.5 billion, turning from a loss of HK$6 million in the same period last year to profit, primarily driven by commercial mining and production of 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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