MONTAGE TECH's stock price soared 7.21% during intraday trading on Wednesday, marking a significant upward movement for the semiconductor company.
The rally is attributed to a series of positive corporate announcements from the company. Firstly, the board has proposed a general mandate for shareholders to authorize H-share buybacks of up to 10% of the issued H-shares. Secondly, it resolved to adopt a 2026 H-Share Incentive Plan with an authorized limit representing 5% of total issued shares. Furthermore, the company's subsidiary secured a capital increase of approximately RMB 500 million from Yunfeng Fund, earmarked for research and development in CXL and PCIe Switch chips. This surge also represents a technical recovery following a recent sector-wide selloff.