Boqii Holding shares surge 20.0% intraday after strategic repurchase of 14.5% stake in Nanjing Xingmu and VIE termination.

think> Okay, let's tackle this query step by step. The user wants me to act as a financial analyst and explain the stock price movement of Boqii Holding by linking it to relevant news events. First, I need to parse the input data. The stock performance is given as Boqii Holding (BQ) intraday up 20.0%. The trading period is intraday. There are four news events provided, each with titles, summaries, and content. My task is to determine which of these news events are relevant to the stock's movement and then summarize the cause concisely. Starting with the first news event (Reason 1): The title mentions a 26.5% surge on a strategic repurchase. The summary states the company repurchased a 14.5% stake in a biotech subsidiary for $1.76M and that VIE arrangements are terminating. The content elaborates that this restructuring could reduce financial complexity and regulatory risks. The stock's intraday gain is 26.5%, which is higher than the 20.0% mentioned in the input. However, the user's input says the stock moved up 20.0% intraday. Wait, but the news events mention 26.5% and 26.07% surges. Maybe there's a discrepancy here. The user's input might be a simplified version or an average, but the news events report higher percentages. However, the user's instruction says the stock moved up 20.0%, so I need to check if the news events can explain a 20% movement. But the news events report higher gains, which might be from different time periods or different data sources. I'll need to reconcile this. Looking at the second news event (Reason 2): It's very similar to Reason 1, with a 26% surge and the same repurchase and VIE termination. The content is almost identical. So this is the same event, maybe from a different source. Third news event (Reason 3): Here, the title says a 18% surge, and the summary mentions a 18% intraday gain. The content again talks about the same repurchase and VIE termination. So this is another variation of the same news but with a slightly different percentage. The user's input is 20.0%, which is between 18% and 26.5%. Maybe the 20% is an average or the user's data is rounded differently. Fourth news event (Reason 4): This one mentions a 32.5% premarket surge following a RMB 12.5 million agreement to repurchase the same 14.5% equity in Nanjing Xingmu. The content here is similar but notes the premarket timing and RMB amount. However, the user's input is about an intraday movement, not premarket. So this might be a different event but related. However, the user's stock movement is intraday, so if the 32.5% was premarket, it might not be the cause of the intraday 20% movement. Unless the premarket movement continued into the intraday session, but the user's input is specifically about intraday. So perhaps Reason 4 is a separate event but related. However, the user's instruction is to focus on the intraday movement, so I need to check which news events are relevant to the intraday period. Now, the user's input says the stock moved up 20.0% intraday. The news events 1, 2, and 3 all mention intraday surges of 26.5%, 26.07%, and 18%, which are all intraday. The fourth news event is premarket. So the relevant news events for the intraday movement are 1, 2, and 3. The fourth is premarket and may not be the cause of the intraday movement. Next, I need to evaluate if these news events are relevant and if they are bullish. All three news events (1, 2, 3) discuss the same strategic repurchase and VIE termination, which are positive developments. The repurchase of the stake and termination of VIE arrangements are seen as steps to streamline operations, improve transparency, and reduce regulatory risks. These are bullish factors. The stock's intraday gains (26.5%, 26.07%, 18%) align with these positive news events. The user's input is 20.0%, which is within the range of these percentages, possibly an average or rounded figure. The fourth news event (Reason 4) is premarket, so it's a different time frame. The user's input is about intraday movement, so unless the premarket movement carried over into the intraday, but the user's data specifies.