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No “crystal ball” can predict FWD (1828)’s share prices, said Frederick Ma Si-hang, chairman and independent non-executive director of FWD, in a 2026 annual general meeting of shareholders on Friday, after shares fell below its HK$30 offer price in the early trading session.
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FWD’s shares fell 3.44 percent to HK$29.22 in the early trading session.
During the meeting, shareholders asked whether the company’s share price would exceed its initial public offering price of HK$38 and whether the company considered a share buyback after its shares fell below HK$30.
Ma said the company hasn’t had any plans to conduct a share buyback, but will discuss the matter with the board.
He noted that there are currently 7 investment banks covering FWD, of which 6 have a “Buy” rating on the stock, adding that the average 12-month target price from brokers stands at HK$44.2.
He said FWD’s management team has expressed hope that the share price will not only recover to its listing price but also continue to rise significantly higher.
Another shareholder asked about FWD’s strategy for using artificial intelligence in customer service in the next three to five years. Richard Li Tzar-kai, founder of FWD, said that research is ongoing into using AI as an agent to consult customers on financial strategy. He added that AI can help if a sales representative provides wrong information, suggest corrections, and assist in quicker claim processing, including notifying the customer of compensation details.
On another note, Ma said FWD has over 40 million customers worldwide and that the board and management will strive to create long-term value for shareholders, investors, customers, and the company’s operations.
