The Insider | Geely Automobile and Agile Group have a big week as directors accumulate shares

There were several significant transactions last week with insider buys in Geely Automobile Holdings and Agile Group. There was also a rare purchase by the CEO and a buy-back in VSTECS Holdings.

For the week, the buying among directors plunged while the selling fell, based on filings on the exchange during the holiday shortened week of April 30 to May 4. A total of 38 companies recorded 152 purchases worth HK$613 million (US$78.10 million) versus eight firms with 29 disposals worth HK$9.10 million. The number of companies and trades on the buying side were sharply down from the previous week’s five-day totals of 58 firms and 291 purchases. The buy value, however, was consistent with the previous week’s purchases worth HK$753 million. On the selling side, the number of companies and value were sharply down from the previous week’s 13 firms and HK$335 million.

Aside from directors, the buy-back activity fell with 25 companies that posted 63 repurchases worth HK$107 million based on filings from April 27 to May 3. The figures were sharply down from the previous five-day totals of 32 firms, 120 trades and HK$327 million.

The top buyer among directors in terms of value was Li Shufu, chairman of Geely Automobile Holdings. The chairman resumed buying after the stock fell by 22 per cent from HK$27.50 on March 20 with 20.15 million shares purchased on May 2 at HK$21.48 each. The trade increased his holdings to 4.163 billion shares or 46.39 per cent of the issued capital. The fall in the share price since March was surprising as the company announced on March 21 a 108 per cent gain in annual profit to 10.63 billion yuan (US$1.67 billion). Among other purchases this year, the chairman acquired 18.83 million shares on January 19 at HK$24.99 each. The stock closed at HK$20.90 on Friday.