HK-listed China Literature climbs on share buyback plan

China Literature

05/12/2025 07:56

** Shares of online literature and intellectual property incubation platform China Literature 0772.HK climbs 2.9% to HK$36.84, on track for the biggest one-day pct gain since Nov 25

** Stock on course to snap three straight sessions of fall

** China Literature said it plans to buy back on-market shares for up to HK$1.2 bln ($154.16 mln) to reflect its confidence in the company's prospects

** Value of the shares is undervalued and the firm's current financial resources would enable it to conduct the proposed share buy-back plan with own resources while maintaining sufficient financial resources for operations

** YTD, stock up 44.7%, while Hang Seng TECH Index .HSTECH up 26.7%

($1 = 7.7840 Hong Kong dollars)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))