HK Stock Market Move | CONANT OPTICAL (02276) rises over 3%; share repurchase plan of up to HK$400 million approved

CONANT OPTICAL (02276) rose over 3%, up 3.39% as of press time to HK$37.18, with turnover of HK$4.0112 million. On the news front, on the evening of November 12, CONANT OPTICAL announced that, in order to further safeguard shareholder rights and enhance investor confidence, pursuant to the general mandate and the general mandate to repurchase shares, the board has approved another H-share repurchase plan with a total repurchase amount not exceeding HK$400 million (the 2026-2027 H-share repurchase plan). The source of funds for the repurchase plan will be the company's internal funds or other funds permitted by applicable laws and regulations. CMSC previously noted that CONANT OPTICAL is the exclusive lens supplier for Alibaba Qwen AI glasses, supporting leading domestic and international brands such as Rokid and Meta; Goertek Inc. holds a 19.3% stake and has become the second-largest shareholder, jointly building XR industry collaboration; new dedicated XR production lines in Thailand and Jiangsu have achieved mass production of optical waveguide laminated lenses, entering the supply chain of leading consumer electronics companies. The company is bullish on CONANT OPTICAL's positioning in XR smart glasses and expects its valuation to move higher.