HK Stock Market Move | DUALITYBIO-B (09606) rose more than 4% in early trading, planning to repurchase up to $40 million of shares, founder Zhu Zhongyuan increased his holdings in the company.

DUALITYBIO-B (09606) surged over 4% in the morning session, and as of the time of writing, it rose 2.6% to 220 Hong Kong dollars, with a turnover of 22.3895 million Hong Kong dollars. On the news front, on May 19, DUALITYBIO-B announced that the board of directors plans to exercise the power under the general authorization granted by the company's shareholders at the annual general meeting to be held on June 20, 2025, to repurchase Company shares in the open market at an appropriate time. The share buyback plan is expected to use up to 40 million US dollars to repurchase shares. The company will provide funds for repurchasing shares with its internal funds and intends to hold the repurchased shares as treasury shares. In addition, Dr. Zhu Zhongyuan, the founder, Chairman of the Board, Executive Director, and CEO of the company, based on his confidence in the future development prospects of the Group and his recognition of the long-term investment value of the company, intends to use his own funds to purchase company shares through the open market, with a total increase in holdings not exceeding 5 million US dollars, while complying with listing rules and other applicable laws and regulations.