NET Dragon buys tens of millions to buy back shares sell 91 Wireless has plunged the share price

Tencent Science and Technology (Lotte) July 23 News, the Net Dragon (00777. HK) announced today (22nd) The average price of HK $17.79 per share repurchase of 794,500 shares of Net dragon, accounting for 0.155% of the issued share capital and a capital of HK $14.14 million (about 11.19 million yuan). Liu Dejian, chairman and executive chairman of the network, said the repurchase of shares was beneficial to the capital structure of the dragon and its shareholders, and also reflected the confidence of the board and Management in the company's business prospects. If the value is attracted, further repurchase will be considered. July 16, the network Dragon in Hong Kong issued a notice, said Baidu has been on the net dragon to Baidu to sell its 91 owned Wireless Network Co., Ltd. to conclude a memorandum of understanding, Baidu will contribute 1.9 billion U.S. dollars to acquire 91 wireless issued all the equity. On the day of the announcement, the net Dragon shares closed down more than 21%. Guo Jiayao, chief strategist at Silver Shing Wealth Management in China, said yesterday that the net dragon would cancel the split of the 91 wireless listing plan if the deal was to be done. The market to the net dragon from the split listing into a sale, the reaction is rather negative, which led to the net Dragon shares in a single day, a 20%. Guo Jiayao also said that 91 wireless is in the high-speed growth period, the sale will undoubtedly make the network dragon to obtain huge profits and a large amount of cash, but also the cap for profit growth, even if the management said that after the transaction will be distributed special dividends, can only stop the decline in share prices, to regain the past period of time the brilliance of Although the stock price has been recalled, but it is not appropriate to copy bottom.