On June 30, Hua Qin Technology rose 3.04% at open, trading at 64.3 HKD/share, with turnover of 135,000 HKD. The rise follows the company's announcement that seven directors and senior executives plan to collectively purchase shares worth 24 million yuan.

According to the announcement dated June 29, Chairman Qiu Wensheng, Vice General Manager Wu Zhenhai, Director Chen Xiaorong, CFO Xi Pinghua, Vice General Managers Zhang Wenguo and Wang Zhigang, and Board Secretary Li Yutao plan to acquire A-shares and H-shares through centralized bidding within one month starting June 30. Specifically, Qiu Wensheng intends to purchase 5 million yuan each of A-shares and H-shares, Wu Zhenhai and Chen Xiaorong each plan 5 million yuan in A-shares, while the remaining four executives each plan 1 million yuan. No price cap has been set, with all funds sourced from personal capital.

The collective buyback comes after the company's A-shares suffered a 13.87% weekly decline and hit the daily limit-down on June 26, signaling management's confidence in the company's long-term value amid elevated selling pressure from bonus share dilution effects and employee platform share disposals.

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