HK Stock Market Move | Zhongji Innolight (03308) opened nearly 5% higher, plans to cancel nearly RMB 5 billion in repurchased shares; the reduction in total share capital will boost earnings per share.

Zhongji Innolight (03308) opened nearly 5% higher. As of press time, it was up 4.85% at HK$822, with a turnover of HK$26.4684 million. On the news front, Zhongji Innolight announced that the board will hold a meeting on October 29 to consider matters including changing the purpose of the A-shares repurchased in September 2026 and cancelling all of them. The company had previously completed the repurchase of 5.6531 million A-shares for approximately RMB 4.997 billion, accounting for 0.48% of total share capital. If all the relevant shares are cancelled, the company's total share capital will be reduced accordingly, which is expected to boost earnings per share. In addition, Morgan Stanley published a report stating that Zhongji Innolight showcased its open optical interconnect solution vision and roadmap at the 2026 OCP Global Summit. The bank believes that the company's leading R&D progress in areas such as CPX, XPO and SDM4 MCF will help it capture market share in next-generation AI optical solutions.