Shares of MEITU (01357) rose more than 5%, gaining 5.75% to HK$4.23 at the time of writing, with a turnover of HK$105 million.

The catalyst for the move was a company announcement on July 3rd. The announcement stated that the company's founder, Chairman, and CEO, Wu Xinhong, purchased 1.6 million shares of the company on the open market of the Hong Kong Stock Exchange on July 3rd, 2026, at an average price of HK$4.023 per share.

The announcement noted that Wu Xinhong has never sold any shares of MEITU since founding the company and has made multiple purchases of the company's stock since May 10, 2018. Including this latest transaction, Wu has cumulatively bought 5.58 million shares of MEITU.

Following this purchase, Wu Xinhong's holdings now represent approximately 12.97% of MEITU's issued share capital. Wu stated that, in light of the ongoing acceleration in product innovation and the long-term growth potential of MEITU, he does not rule out the possibility of further increasing his stake in the company at an appropriate time in the future.