HK Stock Market Move | FS.COM (03355) rebounds over 5%, has conducted multiple share buybacks since inclusion in Stock Connect, completed strategic acquisition of Boda Communication in July this year.

FS.COM (03355) rebounded over 5%. The 16.9229 million H shares held in aggregate by the company's cornerstone investors have a lock-up period ending on September 22. As of press time, the stock rose 4.99% to HK$41.2, with a turnover of HK$15.8134 million. On the news front, FS.COM has conducted buybacks for 10 consecutive days since its inclusion in Stock Connect on September 7, repurchasing a total of 1.9027 million shares for a cumulative buyback amount of HK$75.529 million. In the first half of this year, the company achieved revenue of RMB 1.762 billion, up 25.9% year-on-year; net profit of RMB 451 million, up 65.1% year-on-year; adjusted net profit of RMB 471 million, up 59.8% year-on-year. It is worth noting that on July 23 this year, FS.COM officially completed the strategic acquisition of Shanghai Boda Data Communication Co., Ltd. Upon completion, Shanghai Boda Data Communication will become a wholly-owned subsidiary of the company, and its financial results will be consolidated. The company stated that with the vigorous development of the global AI industry, the network infrastructure industry continues to grow, and market demand has upgraded from single hardware procurement to comprehensive requirements for high-performance, high-stability products, scenario-based solutions, and supply chain resilience.