On July 22, Huaqin Technology rose 3.11% in regular trading, trading at HK$72.2/share, with turnover of HK$11.84 million.
On the news front, the company's board previously approved an A-share buyback plan to repurchase RMB 150 million to RMB 200 million worth of shares at no more than RMB 100 per share, designated for equity incentive or employee stock ownership plans, with implementation within three months. Concurrently, Chairman Qiu Wensheng announced a plan to increase his H-share holdings by RMB 10 million over six months, signaling confidence in the company's long-term value. Additionally, subsidiary Huaqin Communications has continued accumulating H-shares of Nexchip Semiconductor, raising its stake to 10.62%, deepening supply chain synergies.
The stock had gained 8.76% on July 21 following the same catalysts, with multiple brokerages including Pacific Securities, China Post Securities, and Soochow Securities maintaining Buy ratings on the company. Huaqin previously issued a positive profit alert forecasting H1 net profit of RMB 2.9 billion to RMB 3.05 billion, representing 53.5% to 61.5% year-over-year growth.
(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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