HK Stock Market Move | SDHG (00412) rose more than 13% today, following a heavy volume decline of over 24% yesterday. They announced a buyback plan of up to $100 million.

SDHG (00412) rose more than 13%, with the stock plunging more than 24% on heavy volume yesterday. As of the time of writing, it has increased by 13.01% to HK$14.25 with a turnover of HK$2.37 billion. In terms of news, on the evening of September 16, SDHG announced that the Board of Directors had been authorized by shareholders on June 6, 2025, to repurchase up to 10% of the issued shares. The Board of Directors decided to authorize management to execute the share buyback plan at an appropriate time. The repurchase price will not exceed HK$17 per share, with a total amount not exceeding US$100 million, and the funds will come from the company's existing cash flow or operating funds. The company believes that this share repurchase reflects confidence in its own business development and prospects, aligns with long-term development strategies, and will not affect the company's financial stability, thus benefiting the company and shareholders as a whole. Furthermore, the announcement pointed out that the trading price and volume of the company's shares have recently experienced abnormal fluctuations. After investigation, the Board of Directors confirmed that they were not aware of any reasons that could have caused such abnormal fluctuations in the share price and volume, or of any insider information that should be disclosed. The Board of Directors also confirmed that the business operations are normal, with no significant changes in the business operations and financial condition.