Geek+ Technology rises intraday on buyback as shares tumble over day

Geek+ Technology (2590.HK) tumbled over 2% in Hong Kong trading to report at HKD10.92, after briefly surging during the session.

The company announced a share buyback on July 8, spending approximately HKD4.56 million to repurchase 400,000 shares at prices ranging from HKD11.20 to HKD11.67. The total treasury shares held by the company increased to 4.6 million following this transaction.

Analysts note that while Geek+ leads peers in revenue growth and profit margins within the robotics sector, its valuation remains significantly lower than industry averages. With the lock-up period approaching in July 2026, major shareholders maintain an optimistic outlook regarding potential revaluation.