Chinese Gaming Companies Announce Major Share Buyback Plans

Chinese Gaming Companies Announce Major Share Buyback Plans

In a significant move within the Chinese gaming industry, several major companies have announced plans to buy back shares, reflecting a strategic shift in their financial management. Perfect World, G-bits, and Jiangxi Xinxin Industrial Co., Ltd. have all declared intentions for substantial share repurchases after today's market close.

Perfect World proposes a share buyback worth 1~2M CNY

Perfect World has proposed a buyback of its shares valued between 100 million to 200 million CNY. Similarly, G-bits and Jiangxi Xinxin Industrial Co., Ltd. are planning buybacks ranging from 50 million to 100 million CNY. This news follows earlier announcements from 37 Games and Giant Network, who also stated their intentions to repurchase shares valued between 100 million and 200 million CNY during the mid-day trading break.

These collective announcements indicate a significant move in the Chinese gaming sector, potentially aiming to boost investor confidence and stabilize their stock prices. This trend of buybacks could also suggest a broader financial strategy in response to the current market conditions in the gaming industry. As these major players in the gaming sector embark on this buyback journey, it will be interesting to observe the impact on their market performance and investor relations.

Source: Weibo