The Zhitong Finance App learned that Huaqin Technology (03296) rose more than 5% in the afternoon. As of press release, it rose 4.31% to HK$53.2, with a turnover of HK$27.243,500.

According to the news, Huaqin Technology recently completed two rounds of A-share repurchases. The first phase of the repurchase plan was announced on July 21 this year and completed on August 30. The actual repurchase of about 2,619,500 shares was made, with a total amount of about 200 million yuan. On September 28, Huaqin Technology announced the second phase of the repurchase plan. On October 12, the company announced the completion of the second phase of the repurchase plan. The actual repurchase of about 5 million shares is about 369 million yuan.

Huachuang Securities pointed out that Huacin Technology is a leading global intelligent manufacturing enterprise. Relying on the “3+N+3” product strategy and global manufacturing system, it continues to expand product and customer coverage. Under a continuous upward trend on the end side, it has benefited from the rapid growth of the company's data center business with major trends in domestic computing power. The first coverage gives a “strong” rating.

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