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The latest update is out from Meitu ( (HK:1357) ).
Meitu, Inc. has launched a one-year share buy-back plan of up to HK$300 million, to be executed through on-market transactions under its existing shareholder-approved mandate. The programme will be funded from existing cash reserves, with management stressing that current financial resources are sufficient to support the repurchases while maintaining a solid balance sheet.
The board framed the buy-back as a signal of confidence in Meitu’s business prospects and a measure to enhance shareholder returns, although the timing, size and pricing of any actual repurchases will depend on market conditions and remain entirely at the board’s discretion. The company also cautioned investors that there is no assurance on the extent of purchases and pledged to meet all Hong Kong listing disclosure requirements as the plan is implemented.
The most recent analyst rating on (HK:1357) stock is a Buy with a HK$16.00 price target. To see the full list of analyst forecasts on Meitu stock, see the HK:1357 Stock Forecast page.
More about Meitu
Meitu, Inc., incorporated in the Cayman Islands and listed in Hong Kong, operates in the technology and internet sector, best known for its photo and video editing applications and related digital services. The group focuses on consumer-facing mobile products and online platforms, targeting users in Mainland China and international markets as it scales its digital ecosystem and monetisation channels.
Average Trading Volume: 63,389,715
Technical Sentiment Signal: Hold
Current Market Cap: HK$21.69B
Learn more about 1357 stock on TipRanks’ Stock Analysis page.