China XLX Fertilizer Soars Over 9% Intraday to Record High, Company Conducts Intensive Share Buybacks

Deep News01-26 11:00

CHINA XLX FERT (01866) surged more than 9% during the trading session, reaching a high of HK$11.15 and once again setting a new historical peak. As of the time of writing, the stock was up 7.93%, trading at HK$11.03, with a turnover of HK$55.3984 million.

It is noteworthy that XLX Fertilizer has recently opted for intensive share repurchases. On January 23, the company spent approximately HK$8.8433 million to buy back 874,000 shares. Significantly, on the evening of January 12, XLX Fertilizer announced a clear share repurchase plan, stating that starting from January 13, it would repurchase up to 10% of its issued shares within the year at a cost not exceeding HK$200 million. The Board of Directors believes this buyback plan reflects the company's recognition of its own value and its confidence in the long-term development of its business.

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