Changes in Hong Kong stocks | Zhiyuan Holdings (00990) rose more than 11% in the intraday period and plans to generally authorize the repurchase of up to about 1.48 billion shares in the open market

The Zhitong Finance App learned that Zhiyuan Holdings (00990) rose more than 11% in the intraday period. As of press release, it had risen 11.76% to HK$0.57, with a turnover of HK$8.996 million.

According to the news, Zhiyuan Holdings announced that the company was granted general authorization by shareholders to repurchase shares on June 30, 2026, and can repurchase up to about 1,480 billion shares on the Stock Exchange, accounting for 10% of the total number of shares issued on the same day. The Company hereby announces that on July 21, it has decided to use a repurchase mandate and (if applicable) any future general mandate approved by shareholders at the Company's shareholders' meeting to repurchase shares on the open market (proposed share repurchase).

The Company believes that the current transaction price of the shares does not reflect their intrinsic value or the actual business prospects of the Company, and the proposed share repurchase also reflects the Company's full confidence in its own business development prospects.