HK Stock Market Move | Huaqin Co.,Ltd.(03296) rose over 5% in the afternoon. The company swiftly completed two rounds of share buyback plans, with a cumulative expenditure of nearly 570 million yuan.

Huaqin Co.,Ltd.(03296) rose over 5% in the afternoon. As of press time, it was up 4.31% at HK$53.2, with a turnover of HK$27.2435 million. On the news front, Huaqin Co.,Ltd. recently swiftly completed two rounds of A-share share buybacks. The first buyback plan was announced on July 21 this year and completed on August 30, with approximately 2.6195 million shares actually repurchased for a total of approximately 200 million yuan. On September 28, Huaqin Co.,Ltd. announced its second buyback plan, and on October 12 the company announced the completion of the second buyback plan, with approximately 5 million shares actually repurchased for a total of approximately 369 million yuan. Hua Chuang Securities pointed out that Huaqin Co.,Ltd. is a leading global smart manufacturing enterprise. Relying on its "3+N+3" product strategy and global manufacturing system, it continues to expand product and customer coverage. Against the backdrop of a continuously rising base on the device side, the company's data center business is growing rapidly, benefiting from the major trend of domestic computing power. It initiated coverage with a "Strong Buy" rating.