HK Stock Market Move | JINCHUAN INTL (02362) Rises Over 10%; Approved to Repurchase Up to 1.313 Billion Shares, Demonstrating Confidence in Development

JINCHUAN INTL (02362) share price moved higher, rising 10.17% as of press time to HK$0.65, with turnover of HK$13.2057 million. On the news front, JINCHUAN INTL announced last night that it intends to exercise its powers under the repurchase mandate to repurchase shares on the open market at appropriate times. Under the repurchase mandate, the company has been approved to repurchase up to 1.313 billion shares on The Stock Exchange of Hong Kong Limited, representing 10% of the total number of issued shares as of the date of the annual general meeting. The board believes that the proposed share repurchase and the subsequent cancellation of the repurchased shares can enhance share value and benefit returns to the company's shareholders. In addition, the proposed share repurchase reflects the company's recognition of its own value and confidence in the long-term prospects of the industry.