H-share Market Movement | Zhou Liu Fu (06168) surged over 4% intraday after the company announced its proposal to authorize the repurchase of up to 10% of its issued H-shares.

According to Zhitong Finance, Zhou Liu Fu (06168) rose more than 4% during the trading session. As of the time of writing, it was up 3.77%, trading at HKD 26.4, with a turnover of HKD 93.7657 million.

In terms of news, Zhou Liu Fu previously announced that it plans to seek authorization from the shareholders' meeting to authorize the board of directors to repurchase up to 10% of the total number of issued H shares in order to safeguard shareholder interests. According to the H-share repurchase authorization, the repurchase will be conducted during the relevant period, with the specific quantity based on the issued H shares as of the date of approval by the shareholders' meeting.

Notably, in November, Zhou Liu Fu announced the launch of a new partnership model for joint venture stores, collaborating with franchisees to jointly invest in and operate 'Three Goods' stores (prime location, high-quality products, excellent operations). This model is expected to diversify investment risks, stimulate enthusiasm for store openings, and is anticipated to drive growth in the number of stores and increase per-store revenue, providing positive momentum for the group's performance.