HK Stock Market Move | Zhuzhou CRRC Times Electric (03898) rose over 8% in early trading, with a total buyback of 7.78% of the H shares issued in the past three months. The repurchased shares have all been cancelled.

Zhuzhou CRRC Times Electric (03898) surged more than 8% in early trading, with a 7.12% increase to HK$33.85 at the time of writing, with a trading volume of HK$297 million. On the news front, Zhuzhou CRRC Times Electric announced that from December 12, 2024 to February 20, 2025, the company repurchased a total of 42.2004 million H shares, representing approximately 2.9897% of the total issued share capital and approximately 7.7770% of the total issued H shares. The total amount of funds used exceeded HK$1.285 billion. The company has cancelled all repurchased H shares, reducing the issued shares to 1.369 billion. It is worth noting that Zhuzhou CRRC Times Electric announced at the end of last year its intention to acquire 100% equity interest in Zhuzhou CRRC Commercial Vehicle Power. The total consideration for the equity transfer is approximately RMB 107 million. After the completion of the equity transfer, the company will directly hold 100% equity interest in Zhuzhou CRRC Commercial Vehicle Power, which will become a wholly-owned subsidiary of the company and its financial performance will be consolidated into the group's financial statements.