The Zhitong Finance App learned that Huahong Hongli (01347) rose nearly 5% in early trading. As of press release, it rose 3.57% to HK$79.75, with a turnover of HK$375 million.

According to the news, Huahong Hongli announced that it plans to repurchase the company's A shares. The total repurchase capital is not less than 300 million yuan, not more than 500 million yuan. All of the repurchased shares will be cancelled. Based on the maximum repurchase price, the estimated number of repurchases is about 1.173,900 shares to 1,956,600 shares, accounting for 0.0609% to 0.1015% of the company's total share capital.

Notably, at the latest performance briefing, Huahong Hongli executives said that the company's average sales price in the fourth quarter will rise slightly from the third quarter. The price increase is expected to continue until 2027, and they are optimistic about opportunities for logic foundries to participate in the storage and silicon light markets.

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