Changes in Hong Kong stocks | Xindong (02400) opens 4% higher and plans to repurchase up to HK$400 million of company shares

The Zhitong Finance App learned that Xindong (02400) opened 4% higher. As of press release, it rose 4% to HK$68.85, with a turnover of HK$2,8091 million.

According to the news, Xindong Company announced that it signed a share repurchase agreement with an independent broker on January 5. The broker was appointed to operate an automatic share repurchase plan. The parameters have been agreed upon, and the broker will repurchase up to HK$400 million of shares on the Stock Exchange. According to the Group, the automatic share repurchase plan will last until June 4, 2026. Before the final expiration date, brokers have the right to specify an earlier expiration date if the amount used to repurchase shares reaches HK$400 million. In any case, the automatic share repurchase plan is expected to be valid for the entire restricted period from publication of the annual results up to 31 December 2025 until the final maturity date.