Shanghai Top Numerical climbs after proposing share buyback

Shanghai Top Numerical Control Technology

30/06/2026 03:16

** Shares of Shanghai Top Numerical Control Technology  7688.HK climb 7.4% to HK$24.6, on track for biggest one-day pct gain since June 1
** Stock set to snap six consecutive sessions of losses
** China-based intelligent manufacturing equipment producer says it is seeking shareholder approval to repurchase up to 10% of H shares 
** "The company is full of confidence in the group's operating performance, long-term development prospects and the investment value of the H shares of the company," it says
** Since debut on May 20, stock down 6.9% from offer price of HK$26.39 
** YTD, benchmark Hang Seng Index .HSI down 11%
         

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