CCTC (06951) shares surged more than 10% in early trading on the Hong Kong Stock Exchange, reaching a high of 101 Hong Kong dollars with a turnover of 187 million Hong Kong dollars as of press time.

The move follows the company's announcement on the evening of July 30 that it plans to launch a second-phase share buyback program for its A-shares, with a budget ranging from 500 million to 1 billion yuan. The repurchased shares will be used for employee stock ownership plans or equity incentives, as well as to safeguard company value and shareholder interests.

Additionally, the booming AI industry has driven a surge in demand for high-end Multi-Layer Ceramic Capacitors (MLCCs). On July 29, Samsung Electro-Mechanics announced a 30% price increase for MLCCs starting in August, with all shipments from August 1 priced under the new rates. Another major MLCC manufacturer, Japan's Taiyo Yuden, also notified customers of a price hike for MLCCs shipped from September 1, citing a sharp rise in raw material and auxiliary material costs.