Hong Kong-listed optical communication stocks saw a notable uptick in afternoon trading, buoyed by a significant share repurchase plan disclosed by a major industry player. 俊知集团 led the gains with a rise of over 8%, followed by 曦智科技 which climbed more than 6%. Zhongji Innolight Co., Ltd. (stock code: 300308) advanced by 5%, while 剑桥科技 added over 2% to its value.

The market rally was triggered by an announcement from Zhongji Innolight on the previous day, revealing its intention to repurchase its own shares using either internal funds or self-raised capital. The total buyback amount is set at no less than RMB 4 billion and no more than RMB 8 billion, with a maximum repurchase price capped at RMB 1,200 per share.

Based on the upper limit of the buyback amount, the company expects to repurchase approximately 6.67 million shares, representing about 0.57% of its total share capital. The repurchase will involve A-shares (ordinary RMB shares) and is designated for the company's employee stock ownership plan or equity incentive scheme. Any portion of the repurchased shares not utilized within the designated period will be legally cancelled.

The buyback program is scheduled to be completed within 12 months from the date of approval by the board of directors, marking a strategic move to bolster shareholder value and employee incentives amid strong sector momentum.