HK Stock Market Move | DEEP SOURCE (00990) rose more than 11% during trading and plans to seek general authorization to repurchase up to approximately 1.48 billion shares on the open market.

DEEP SOURCE (00990) rose more than 11% during trading hours, with an increase of 11.76% as of the time of writing, trading at 0.57 Hong Kong dollars with a trading volume of 8.99 million Hong Kong dollars. On the news front, DEEP SOURCE announced that it was granted a general mandate by its shareholders on June 30, 2026 to repurchase up to approximately 1.48 billion shares, representing 10% of the total number of issued shares on that day. The company hereby announces that on July 21, it has decided to utilize the repurchase mandate, as well as (if applicable) any future general mandate approved by shareholders at the company's shareholders' meeting to repurchase shares (recommended share repurchase) in the open market. The company believes that the current trading price of its shares does not reflect their intrinsic value or the actual business prospects of the company, and the recommended share repurchase also reflects the company's confidence in its own business development prospects.