CIDI-NEW's stock price surged 5.25% during intraday trading on Wednesday, reflecting strong investor sentiment towards the company.

The movement appears to be driven by multiple positive developments. The company announced its board has resolved to seek shareholder approval for a share buyback plan of up to 10% of its total issued H shares, signaling management's confidence in the company's intrinsic value. Additionally, Guotai Haitong Securities initiated coverage on the stock with an Overweight rating and a target price of HK$32.53, citing CiDi's leading full-stack autonomous driving capabilities for commercial vehicles and its scalable unmanned mining truck operations.

Further supporting the positive outlook is CiDi's recent strategic partnership with Schaeffler to collaborate on pure-electric intelligent mining trucks and logistics vehicles, focusing on distributed electric drive systems and electronic architecture, which advances the company's position in commercial vehicle electrification and intelligence.