JD Logistics' stock surged 5.53% in pre-market trading on Thursday, extending gains from the previous session as the company's aggressive share repurchase activities boosted investor confidence.

The logistics provider has maintained an intensive buyback program since June, executing repurchases on nearly every trading day with daily amounts ranging from HKD 15 million to HKD 38 million. Year-to-date, the company has completed 28 buybacks totaling over 53.26 million shares, spending approximately HKD 683 million in aggregate.

Notably, the annual general meeting approved a new repurchase authorization allowing the company to buy back up to approximately 666 million shares, representing 10% of issued share capital. The market interprets this substantial authorization as a clear signal of management's firm confidence in the company's intrinsic value and future prospects.