HK Stock Market Move | DELTON (01989) falls over 6%, with its share price down more than 60% cumulatively since July; the chairman proposes repurchasing no more than RMB100 million of A-shares.

DELTON (01989) fell over 6%, with the stock down more than 60% cumulatively since July. As of press time, it was down 6.71% at HK$70.25, with a turnover of HK$90.6814 million. On the news front, on October 23, DELTON announced that, based on confidence in the company's future development prospects and recognition of the company's stock value, in order to effectively safeguard the company's value and shareholders' interests and enhance investor confidence, Chairman Mr. Xiao Hongxing proposed that the company repurchase some of its A-shares through centralized bidding transactions using its own funds and/or self-raised funds, and use the repurchased shares for an equity incentive plan and/or employee stock ownership plan. The total amount of funds proposed for the share repurchase shall be no less than RMB50 million and no more than RMB100 million (inclusive). Previously, DELTON issued a earnings forecast, expecting net profit attributable to shareholders of the listed company for the first three quarters of 2026 to be RMB1.45 billion to RMB1.5 billion, a year-on-year increase of 100.33% to 107.23%. Data shows that DELTON's Q2 net profit was RMB563 million. Based on calculations, Q3 net profit is expected to be RMB494 million to RMB544 million, projected to decline 3% to 12% quarter-on-quarter.