Movement Alert｜East Buy Rises 5.45% in Regular Trading, Share Buyback Cancellation Completed Combined with Oversold Rebound

Market Focus

Jul 16

On July 16, East Buy (01797.HK) rose 5.45% in regular trading, trading at HKD 23.14 per share, with turnover of approximately HKD 83.78 million.

On the news front, the company announced on July 14 that approximately 7.418 million ordinary shares repurchased between May 11 and May 20 at an average price of HKD 25.18 per share, totaling approximately HKD 187 million, had been fully cancelled. Following the cancellation, the company's total issued share capital was reduced to approximately 1.053 billion shares. The buyback cancellation signals management's confidence in the company's intrinsic value.

Additionally, the stock had previously fallen over 7% on July 13 after reports that former CEO Sun Dongxu partnered with former anchors to establish a new company focused on livestream e-commerce, raising competitive concerns. Today's rally also reflects an oversold rebound from that sell-off.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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