From BigGo Finance · BigGo Finance · · 1m 50s
China's SSE Main Board Weekend Filings Boost Tech Buybacks
Tech firms on China's SSE Main Board announced buyback plans totaling 1.4 billion yuan, with profit forecasts rising 150-180% year-on-year.
In brief
Tech firms on China's SSE Main Board announced buyback plans totaling 1.4 billion yuan, with profit forecasts rising 150-180% year-on-year. Four Chinese tech companies rolled out buyback programs with a combined cap of 1.4 billion yuan, while Shengyi Technology and Hengtong Optic-Electric reported 164-181% and…
Weekend filings surge
From Oct. 16 to Oct. 18, over 30 SSE Main Board companies filed positive announcements including 23 buyback and share-increase plans.
Tech buyback programs
Four tech firms, OmniVision Group, Sugon, Shengyi Technology and Kinwong Electronic, rolled out buyback programs with a combined cap of 1.4 billion yuan.
Buyback details
OmniVision Group plans to repurchase shares between 250 million and 500 million yuan at a maximum price of 120 yuan per share.
Share-increase plans
Meihu's chairman plans to raise his stake by 10 million to 20 million yuan over six months starting Oct. 19.
Profit growth forecasts
Shengyi Technology forecasted a 164%, 181% year-on-year rise in net profit for the first three quarters of 2026.
Hengtong Optic-Electric growth
Hengtong Optic-Electric reported a 151.27%, 168.10% year-on-year increase in net profit for the first three quarters of 2026.
Shengyi Electronics growth
Shengyi Electronics projected a 68%, 75% year-on-year rise in net profit for the first three quarters of 2026.
EU certification progress
Jiuzhou Pharmaceutical's subsidiary obtained its first EU drug GMP certificate for granule production with annual capacity of 80 million sachets.
Tiancheng Auto Control project
Tiancheng Auto Control's subsidiary won a passenger-car seat assembly nomination for a joint-venture automaker with mass production expected in March 2027.
Market impact
Buybacks are concentrated in booming tech sectors with shares earmarked for employee stock ownership rather than immediate earnings boosts.
The short version
Four Chinese tech companies rolled out buyback programs with a combined cap of 1.4 billion yuan, while Shengyi Technology and Hengtong Optic-Electric reported 164-181% and 151-168% year-on-year profit growth.
