China's AI firm Bairong hits 3-month peak on share repurchase plan

Bairong

30/09/2024 03:47

** Shares of Chinese artificial intelligence (AI) technology
services firm Bairong Inc  6608.HK  jump 9% to HK$9.53, their
highest since June 20 
    ** Stock on course for a third straight session of gains, if
current trend holds
    ** Bairong says its board has resolved to increase size of
its share repurchase plan to up to HK$375 mln ($48.25 mln), from
HK$250 mln, and extend the period until May 31, 2025 to
demonstrate confidence in its own business outlook and prospects
    ** Hang Seng Composite Index, which tracks information
technology firms  .HSCIIT , edges 0.3% higher, Hang Seng Tech
Index  .HSTECH  rises 3.3% and Hang Seng Index  .HSI  adds 1.3%
    ** Stock down 31.2% YTD  
    ($1 = 7.7728 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))