Changes in Hong Kong stocks | ZTE (00763) rose more than 5% in the afternoon and plans to spend up to 1.2 billion yuan to buy back the company's A shares

The Zhitong Finance App learned that ZTE (00763) rose more than 5% in the afternoon. As of press release, it had risen 4% to HK$28.6, with a turnover of HK$1,078 billion.

According to the news, ZTE issued an announcement in the afternoon stating that the company plans to use its own funds to buy back the company's A shares through centralized bidding transactions to implement shareholding plans or equity incentives for the company's employees. The total capital of this repurchase is not less than RMB 1 billion and not more than RMB 1.2 billion (all inclusive).

According to estimates of the maximum repurchase capital of RMB 1.2 billion and the maximum repurchase price of A-shares of RMB 63.09 per share, the number of shares repurchased by the company is approximately 19.0204 million shares, accounting for about 0.40% of the company's current total share capital. The specific number of shares to be repurchased is based on the actual number of shares repurchased at the end of the repurchase period. The repurchase period is within 12 months from the date the board of directors reviewed and approved the repurchase plan.