Shoucheng Holdings buys back 20.65M shares

Confident in short-term valuations due to potential returns in robotics and medical technology.

Shoucheng Holdings Limited (0697.HK) bought back its share on 29 and 30 July, acquiring a total of 20.65 million shares at a cost of HK$37.93m, with prices ranging from HK$1.80 to HK$1.87 per share.

The company has repurchased over 36 million shares since July costing over HK$66m.

Shoucheng’s management stated that confidence in the company's short-term valuation reflects its long-term confidence in its strategic direction in robotics and medical technology.

Two of its key investments, IMUNOPHARM and Unitree Robotics, are preparing for their IPOs, whilst several cutting-edge technology investments are nearing profitability.

According to Northeast Securities, Shoucheng Holdings is a leading parking infrastructure operator in China.

With the upcoming World Robot Conference and Humanoid Robot Competition drawing industry attention, the company might benefit from both commercially and valuably.