The Zhitong Finance App learned that Xuan Wu Yun (02392) soared more than 60% in the afternoon. As of press release, it had risen 60.78% to HK$0.82, with a turnover of HK$3.433,900.
According to the news, Xuanwuyun issued an announcement in the afternoon stating that it will exercise repurchase authorization and 2024 repurchase authorization to repurchase shares on the open market in response to market conditions. The company plans to use up to HK$100 million to repurchase shares under the share repurchase plan. The Board believes that the share repurchase plan is in the overall best interest of the company and its shareholders. The company will use existing reserve cash reserves and free cash flow to fund share repurchases.
According to Xuanwuyun's 2023 financial report, the company achieved revenue of 1,281 billion yuan during the period, an increase of 22.8% over the previous year. Among them, the SaaS sector focused on the company achieved revenue of 591 million yuan, an increase of 24.6% over the previous year. By the end of the reporting period, the company's cash and cash equivalents were $192 million, an increase of 19.4% over the previous year.