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The company has approved an additional authorization to repurchase 770,000 ordinary shares, bringing its total authorized share buyback amount to 3.42 million shares. In ongoing open market operations, the company’s management is actively implementing this capital allocation strategy. Through share buybacks, the company aims to optimize its capital structure and potentially increase earnings per share, reflecting management’s confidence in the company’s long-term value and future prospects.The share repurchase plan is an important component of the company’s financial strategy, sending a positive signal to the market. In the current market environment, this move helps enhance shareholder value and demonstrates the company’s sound financial position and cash flow management capabilities.

There were previous reports that Meta is considering this move. However, JPMorgan analysts also believe this indicates the company lacks progress in proprietary AI development. "We would rather see Meta develop core AI products, leverage them on its 4 billion user base, and provide large-scale computing power for its own inference needs, rather than selling access to its infrastructure," JPMorgan analysts said in a report. "This still tells us that Meta's appeal for AI products outside of advertising remains limited." Meta's stock price fell by more than 4%.

```htmlJinse Finance reports that on July 3, the U.S. Federal Reserve's overnight reverse repurchase agreement (RRP) usage was $2.175 billion, compared to $1.001 billion in the previous trading day.```