HK Stock Market Move | CG SERVICES (06098) opened nearly 10% higher, planning to buy back up to 334 million shares.

CG SERVICES (06098) opened nearly 10% higher. As of the time of writing, it is up 9.94% at HK$5.86, with a trading volume of HK$135.718 million. On the news front, CG SERVICES announced that it plans to repurchase up to 334 million shares in the open market, representing 10% of the company's total share capital, depending on market conditions. The repurchased shares will be used as treasury shares for adoption in share-based plans or for cancellation. The announcement stated that the repurchase of shares reflects the group's confidence in the long-term prospects of its business, enhances shareholder returns, and aligns with the overall interests of the company and its shareholders. The Board of Directors also believes that the group's financial position is sound and that it can maintain sufficient financial resources to support the continuous growth of the group while repurchasing shares.