HashKey Holdings Limited said its board has approved an on-market share repurchase plan of up to HKD100 million, funded by internal resources and excluding proceeds from its global offering. The authorization was granted at the company’s annual general meeting on June 11, 2026, and will remain in effect until the next meeting.
The company added that the program will be executed under its existing mandate and in compliance with Hong Kong Stock Exchange listing rules, takeover and buy-back codes, and applicable Cayman Islands laws. Repurchases will be carried out at the discretion of the board or authorized parties, depending on market conditions and available liquidity, with no guarantee that any shares will be bought or that the full amount will be used.
Timing and execution left open
HashKey cautioned traders that the timing, volume, and pricing of any repurchases may vary as market conditions change. The company emphasized that the plan provides flexibility rather than a fixed commitment to purchase shares.
Chairman and Chief Executive Officer Xiao said the move reflects management’s view of the company’s fundamentals and is intended to optimize capital allocation while maintaining sufficient financial resources. The initiative forms part of a broader effort to enhance returns.
Shares under pressure amid market downturn
The buyback follows a prolonged decline in HashKey’s share price. The stock fell to a 52-week low of HKD3.20 on June 5 and has dropped more than 51% over the past year, including a 58.7% decline year-to-date. Technical indicators such as the Relative Strength Index suggest the stock is near oversold levels, according to market watchers.
The broader Hong Kong market has also faced pressure, with the Hang Seng Index falling 0.99% on June 11 and extending a monthly decline of 8.28%, led by weakness in technology stocks during a global sector selloff.
Signal on valuation and capital use
A share buyback reduces the number of shares in circulation and can support metrics such as earnings per share. The decision to fund the program from internal cash rather than external proceeds signals that management views the current share price as not fully reflecting the company’s value while maintaining confidence in its financial position.
HashKey operates as a digital asset enterprise providing financial infrastructure, technology, and asset management services across multiple jurisdictions, with licensed platforms supporting trading, on-chain operations, and investment management under regulatory oversight.
Traders will be watching how the board executes the program in the coming months. Market estimates currently point to an average price target of HKD7.17, implying potential upside from current levels, though actual performance will depend on market conditions and company execution.
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