HK Stock Market Move | HUITONGDA NET (09878) surged nearly 11%, as its AI digital product matrix enters a new round of upgrades. The company recently announced a buyback plan of 500 million yuan.

HUITONGDA NET (09878) rose nearly 11% at its peak, and as of the time of publication, it has increased by 7.54%, reaching HKD 9.2, with a transaction volume of HKD 11.2653 million. On the news front, HUITONGDA NET recently announced plans to buy back H shares at unspecified times in the open market, with a total repurchase amount not exceeding RMB 500 million. The board of directors believes that the buyback of H shares is in the overall interest of the company and its shareholders, demonstrating the company and its management team's confidence in the future development prospects of the business and their recognition of its long-term value. It is worth noting that earlier this year, HUITONGDA established a significant strategic partnership with Snack Selection, incorporating 2,800 offline stores into its retail ecosystem through a merger-type joint venture. Recently, Snack Selection completed a new round of store type upgradesexpanding from a single type of bulk snack store to a multi-format store type matrix that includes community convenience stores and discount supermarkets, while accelerating its expansion into lower-tier markets such as counties and towns. This upgrade signifies that Snack Selection is rapidly evolving from a "bulk snack expert" to a "comprehensive retail chain brand," which also means that HUITONGDA's retail chain strategy is steadily taking shape and its results are gradually becoming evident.