HK Stock Market Move | Metallurgical Corporation of China (01618) rose more than 4%, planning to spend 1 to 2 billion RMB to repurchase A shares.

Metallurgical Corporation of China (01618) rose by more than 4%, as of the time of writing, it increased by 4.42%, trading at 1.89 Hong Kong dollars, with a turnover of 94.47 million Hong Kong dollars. On the news front, on January 23, Metallurgical Corporation of China announced plans to repurchase Metallurgical Corporation of China A shares with a total amount of 1 to 2 billion RMB, with the repurchase price not exceeding 4.9 RMB per share. In December of last year, Metallurgical Corporation of China announced plans to repurchase up to 2.5 billion RMB of A shares and H shares. The announcement stated that Metallurgical Corporation of China plans to repurchase A shares with a total amount of 1 to 2 billion RMB, with a repurchase price not exceeding 4.9 RMB per share, and also plans to repurchase H shares with a total amount not exceeding 0.5 billion RMB. The repurchased shares will be cancelled and the company's registered capital will be reduced. In addition, Metallurgical Corporation of China released its annual performance forecast for 2025. According to preliminary calculations by the finance department, it is expected to achieve a net profit attributable to the shareholders of the listed company of 1.3 billion to 1.6 billion RMB in 2025, a year-on-year decrease of 76.28% to 80.73%; and it is expected to achieve a net profit attributable to the shareholders of the listed company after deducting non-recurring gains and losses of 0.4 billion to 0.6 billion RMB in 2025, a year-on-year decrease of 88.24% to 92.16%.