Changxin Technology fell more than 8% in early trading, dropping to 41 yuan, hitting a recent low.

BlockBeats news, October 19 - According to Bitget market data, Changxin Technology fell more than 8% in early trading to 41 yuan, hitting a recent low. It is currently down 6.5% at 42.1 yuan per share.

On the news front, Changxin Technology announced on October 16 that it expects revenue for the first three quarters to be 265 billion yuan to 270 billion yuan, an increase of 232.916 billion yuan to 237.916 billion yuan compared with the same period last year; it expects net profit attributable to shareholders of the parent company to be 131 billion yuan to 132.5 billion yuan, an increase of 136.280 billion yuan to 137.780 billion yuan compared with the same period last year. In the same period last year, Changxin Technology (688825) reported revenue of 32.084 billion yuan for the first three quarters and a net profit attributable to owners of the parent company of -5.280 billion yuan.

Changxin Technology also announced that Chairman Zhu Yiming proposed a share buyback of 1 billion to 2 billion yuan for employee equity incentives, employee stock ownership plans, or reduction of registered capital.