Core Viewpoint - The announcement by Yidu Tech (02158) regarding a total return swap transaction with Goldman Sachs indicates a strategic move to hedge against future stock price appreciation risks, reflecting management's optimistic outlook on the company's valuation potential [1] Group 1: Total Return Swap Transaction - Yidu Tech's subsidiary entered into a total return swap transaction with a nominal equity amount of HKD 54.4047 million, with a duration of approximately three years [1] - The purpose of this transaction is to mitigate the risk of stock price appreciation, particularly in relation to the potential costs and cash flow impacts associated with a share incentive plan post-IPO [1] Group 2: Stock Buyback and Valuation - Yidu Tech has been actively repurchasing shares, having bought back over 3.86 million ordinary shares at a total cost exceeding HKD 22 million since September 26 [1] - Analysts believe that the company's stock is significantly undervalued based on price-to-book ratios and the latest valuations of its international business and key asset reserves, excluding conservative estimates of domestic operations [1] Group 3: Management's Optimistic Outlook - The decision to enter into the total return swap transaction suggests that the management is optimistic about the company's future stock price appreciation potential [1] - By acquiring shares at a low point, the company aims to hedge against the risk of increased costs due to stock price appreciation, demonstrating a proactive risk management strategy [1]
股价被低估！医渡科技签订总回报掉期交易对冲升值风险