Citigroup released a research report stating that cnbm (03323) and its subsidiary china jushi co., ltd (600176.SH) saw a rise in stock prices earlier. cnbm took actions at both the parent company and subsidiary levels, indicating its commitment to shareholder value management, and believes the related impact is positive, maintaining a 'buy' rating for the aforementioned companies.

The report states that cnbm previously announced a conditional cash offer to repurchase up to approximately 0.841 billion H shares at a price of HKD 4.03 per share. The firm believes that the fiberglass industry has emerged from the trough, and profitability is improving with the price recovery in the fourth quarter. cnbm's plan to increase its shareholding in china jushi co., ltd also demonstrates shareholder confidence in the industry's recovery.