HK Stock Market Move | XXF(02473) rose more than 5%, planning to buy back up to 10% of the company's shares.

XXF (02473) rose more than 5%, as of the time of publication, it rose by 5.59%, to 1.7 Hong Kong dollars, with a trading volume of 93.9642 million Hong Kong dollars. On the news front, on February 11th, XXF announced that the board of directors intends to be granted a general authorization at the company's annual general meeting of shareholders to be held on June 18, 2025, to repurchase the company's shares. Under the repurchase authorization, the company is authorized to repurchase up to 10% of the total number of shares issued as of the date of the annual general meeting of shareholders, up to a maximum of 155 million shares. To promote the sustainable operation and development of the company, protect the long-term interests of investors and maximize shareholder value, taking into account the company's current operating conditions, financial situation, and future prospects, the board of directors has decided that from the date of this announcement until the end of the company's next annual general meeting of shareholders (when the repurchase authorization expires) or until shareholders revoke or modify the authorization at the company's general meeting of shareholders, the company will, based on market conditions and the repurchase authorization, use up to a maximum of HK$100 million from time to time to repurchase shares on the open market, with the actual repurchase price per share not exceeding 5% or more than the average closing price of the shares in the five trading days immediately preceding each repurchase.