Bubble Finance learned that on the evening of November 20, Hotjing Biology (688068. SH) announced that the company intends to repurchase shares in a centralized bidding transaction, with a total repurchase fund of not less than 58 million yuan (inclusive) and no more than 100 million yuan (inclusive). The sources of funds for the repurchase of shares are self-owned funds and self-raised funds. The purpose of the repurchased shares is to maintain the value of the company and the rights and interests of shareholders. The price of repurchased shares shall not exceed 45.00 yuan per share (inclusive). The period of share repurchase is 3 months from the date of the board of directors' review and approval of the share repurchase plan.

Share buybacks are often seen as a price stabilization measure, which refers to the use of cash and other means by listed companies to buy back a certain amount of shares that have been issued by their own companies from the stock market. Generally speaking, it can be written off after the buyback, and it can also be used to implement an employee stock ownership plan or an equity incentive plan.

On November 19th and 20th, Hotgen Biotech rose by 38.05%.

The main business of Hotgen Biotech is to focus on innovative biotechnology and lay out solutions from early screening, diagnosis to treatment of diseases. The company's main products are in vitro diagnostic products, biological innovative drugs, etc.

At present, the company's performance is under pressure.

In the first three quarters of 2024, Hotgen Biotech achieved a total operating income of 386 million yuan, a year-on-year decrease of 5.1%; The net profit attributable to the parent company was -40.6386 million, a year-on-year profit turned into a loss.

Previously, at the performance briefing on November 14, in response to "the company's stock price has been lower than its net assets for a long time, what does the company think?" What will be done? Hotgen Biotech said that the company has always advocated the concept of value investment, and strives to do a good job in the operation of its main business to enhance the company's intrinsic investment value. At the same time, we will continue to broaden the communication channels for investors, enhance the communication between the company and the market and investors, and strive to convey the company's investment value. We will actively and rationally use scientific and compliant market value management methods to promote the improvement of the company's market value and ensure that the market value can truly and objectively reflect the actual value of the company.

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