ZHOU HEI YA (01458.HK) saw its stock price soar by 5.22% in Tuesday's trading session, following the company's announcement of an additional share repurchase program. The move has been well-received by investors, driving the stock to significant gains.

According to a statement released by Zhou Hei Ya International Holdings Company Ltd, the board has approved an additional funding limit of up to HK$100 million for the proposed share repurchase. This comes on top of the company's existing repurchase activities, which have been substantial in recent weeks.

The company also disclosed that from March 28 to April 14, it had already repurchased a total of 226.9 million shares at an aggregate consideration of HK$390 million. This aggressive buyback strategy demonstrates the company's confidence in its own value and future prospects, which appears to have resonated positively with the market. The continuation and expansion of this program with the newly approved funds are likely driving the current stock price surge as investors anticipate reduced share supply and potential improvements in per-share metrics.