CCTC (Chaozhou Three-Circle Group, 06951) surged 5.20% during intraday trading, as investors reacted positively to the company's significant share repurchase activity.

The upward momentum came after the company disclosed that it spent RMB 160 million on August 6 to repurchase 1.2894 million A-shares, signaling management's confidence in the company's intrinsic value and future prospects. Share buybacks typically reduce the number of shares outstanding, potentially boosting earnings per share and demonstrating a commitment to returning value to shareholders.