格隆汇勾股大数据显示，腾讯控股(00700)、小米集团-W(01810)、中远海控(01919)、快手-W(01024)、 吉利汽车(00175)、碧桂园服务(06098)、巨子生物(02367)、百融云-W(06608)、中国飞鹤(06186)、名创 优品(09896)、安东油田服务(03337)、明源云(00909)、瑞声科技(02018)、金山软件(03888)、万物云 (02602)、津上机床中国(01651)、蒙牛乳业(02319)、多点数智(02586)、歌礼制药-B(01672)、趣致集团 (00917)、同道猎聘(06100)、海尔智家(06690)、绿城服务(02869)、北森控股(09669)、中远海发(02866)、 信利国际(00732)、锅圈(02517)、德康农牧(02419)、中国石油化工股份(00386)、连连数字(02598)、医渡 科技(02158)、联易融科技-W(09959)、枫叶教育(01317)、永达汽车(03669)、VITASOY INT'L(00345)、 绿茶集团(06831)、富智康集团(02038)、家乡互动(03798)、博雅互动(00434)、IGG ...

Core Viewpoint - Kuaishou-W has been actively repurchasing shares, indicating management's confidence in the company's future prospects and a belief that the current stock price is undervalued [1][2]. Group 1: Share Repurchase Activity - On December 18, Kuaishou-W repurchased 1.235 million shares at an average price of 64.95 HKD per share, totaling approximately 80.22 million HKD [1]. - The total shares repurchased this year amount to 51.31 million, representing 1.18% of the total share capital [1]. - The company has been executing a share repurchase plan since 2023, with a total expenditure of about 3.997 million HKD for 714,400 shares in March 2024 [1]. Group 2: Company Performance and Market Position - Kuaishou-W, listed on the Hong Kong Stock Exchange, is a leading content community and social platform in China, with an average daily active user count of 387 million as of Q3 2023 [2]. - The company's total e-commerce transaction volume grew by 30.4% year-on-year to 290.2 billion CNY [2]. - Kuaishou's total revenue for the first three quarters of 2023 reached 90.4 billion CNY, with a focus on online marketing services, live streaming rewards, and e-commerce [2]. - The company has invested over 10 billion CNY in AI technology research and development in 2023, maintaining its competitive edge through its unique "Lao Tie Economy" ecosystem and advantages in lower-tier markets [2].

| 日期 | 回购股数（万股） | 回购最高价（港元） | 回购最低价（港元） | 回购金额（万港元） | | --- | --- | --- | --- | --- | | 2025.12.18 | 123.50 | 65.600 | 64.350 | 8021.93 | | 2025.12.17 | 128.30 | 65.550 | 63.900 | 8303.70 | | 2025.12.16 | 182.31 | 64.400 | 63.050 | 11582.10 | | 2025.12.15 | 46.20 | 65.350 | 64.300 | 2993.04 | | 2025.12.11 | 44.80 | 67.100 | 66.550 | 2994.07 | | 2025.12.08 | 43.80 | 68.500 | 68.300 | 2995.43 | | 2025.12.05 | 43.80 | 68.950 | 67.500 | 2998.59 | | 2025.12.04 | 44.50 | 67.550 | 67.000 | 2992.30 | | 2025.12.03 | ...

Company News - Emperor Capital (00717.HK) reported total revenue of approximately HKD 730 million for the year ending September 30, 2025, representing a year-on-year increase of 37.3%. Net profit reached approximately HKD 147 million, up 121.4% year-on-year [2] - New Special Energy (01799.HK) plans to sell a 79.92% stake in Xinjiang Wind Power New Energy Partnership for approximately HKD 1.337 billion to facilitate a REITs issuance [2] - Bay Area Development (00737.HK) signed a construction contract for the Shenzhen section with a contract value of RMB 1.448 billion [2] - Weichai Power (03393.HK) won a bid for the Brazil CPFL project with a contract amount exceeding HKD 80 million [3] - WuXi AppTec (02359.HK) invested approximately EUR 30 million to acquire a 3.22% stake in a French biopharmaceutical fund [3] - Joy Spreader Group (02473.HK) established a long-term strategic cooperation with New Stone Technology in areas such as autonomous vehicle procurement and market promotion [3] - Fosun Pharma (02196.HK) signed a cooperation and option agreement with Clavis Bio to jointly advance preclinical development of selected target compounds [3] - CSPC Pharmaceutical Group (01093.HK) reported top-line analysis data from the Phase III clinical trial of its drug, Truxima [3] - Yihai International (01662.HK) announced a strategic cooperation between Trio AI and HGC [4] Financing and Buyback Activities - Zhi Yuan Holdings (00990.HK) plans to issue a total of 515 million new shares at a discount of approximately 1.4%, aiming to raise about HKD 355.3 million [5] - Tencent Holdings (00700.HK) repurchased 1.055 million shares for HKD 636 million, with buyback prices ranging from HKD 599.5 to HKD 605.5 [5] - Xiaomi Group-W (01810.HK) repurchased 3.75 million shares for HKD 151 million, with buyback prices between HKD 40.12 and HKD 40.24 [6] - COSCO Shipping Holdings (01919.HK) repurchased 5.9 million shares for HKD 80.6 million, with buyback prices from HKD 13.52 to HKD 13.76 [7] - Kuaishou-W (01024.HK) repurchased 1.235 million shares for HKD 80.2 million, with buyback prices ranging from HKD 64.35 to HKD 65.60 [7] - Geely Automobile (00175.HK) repurchased 1.908 million shares for HKD 31.8 million, with buyback prices between HKD 16.26 and HKD 16.8 [8]

智通财经APP讯，快手-W(01024)发布公告，于2025年12月18日斥资8021.93万港元回购123.5万股。 ...

格隆汇12月18日丨快手-W(01024.HK)公告，12月18日耗资8021.9万港元回购123.5万股，回购价格每股 64.35-65.6港元。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 快手科技（於開曼群島註冊成立以不同投票權控制的有限公司） 呈交日期： 2025年12月18日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | | 不同投票權架構公司普通股 | | 股份類別 B | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | | 01024 | 說明 | | | | | | | 多櫃檯證券代號 | | 81024 | RMB 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | ...

Market Overview - The Hong Kong stock market experienced low-level fluctuations influenced by a collective decline in US tech stocks, with the Hang Seng Index closing up 0.12% at 25,498.13 points, while the Hang Seng Tech Index fell 0.73% to 5,418.29 points [1] - Major tech stocks showed mixed performance, with Alibaba down 1.3%, JD Group down 0.09%, and Xiaomi down 2.47%, while NetEase, Meituan, Kuaishou, and Bilibili saw slight gains [1] - Airline stocks continued to rise, with China Eastern Airlines increasing by over 7%, while coal stocks strengthened in the afternoon, with Huayi Resources up over 9% [1] - Lithium battery stocks faced significant declines, with CATL down over 3%, and new consumption concept stocks weakened, with Miniso down over 3% [1] Company News - Ronshine China reported a total contract sales of approximately 3.492 billion yuan in the first 11 months, reflecting a year-on-year decline [2] - Corning Jereh Pharmaceutical's IND application for JSKN027 has been officially accepted by the CDE [2] - Yanda Pharmaceutical's globally innovative radiopharmaceutical GPN01530 has been approved for clinical research in the US [2] - Harmony Auto's subsidiary iCar Group Limited may engage new investors for further equity financing, involving 40 million USD [2] - China CRRC signed significant contracts totaling approximately 53.31 billion yuan over the past three months [3] - Minth Group entered into a strategic cooperation agreement with a robotics company [4] - Xunce began its IPO subscription today, offering 22.5 million H-shares [5] Stock Buybacks - Budweiser APAC appointed Bernardo Novick as CFO, effective April 1, 2026 [6] - China Metallurgical Group plans to repurchase up to 2 billion yuan of A-shares and 500 million yuan of H-shares [7] - Kuaishou repurchased 1.283 million shares for 83.037 million HKD at prices ranging from 63.9 to 65.55 HKD [8] - Tencent repurchased 1.057 million shares for 636 million HKD at prices between 595 and 605.5 HKD [9] - Techtronic Industries repurchased 500,000 shares for 44.91 million HKD at prices from 89.35 to 90.50 HKD [10] - Country Garden Services repurchased 3.697 million shares for 23.1748 million HKD at prices between 6.22 and 6.33 HKD [11] - Giga Bio repurchased 400,000 shares for 13.9713 million HKD at prices from 34.62 to 35.22 HKD [12] Institutional Insights - According to China Merchants Securities, the recent weakness in the Hong Kong market is attributed to southbound capital returning to A-shares due to new public fund benchmark regulations, concerns over IPO financing, and an upcoming peak in unlocks, alongside profit downgrades and overseas liquidity disturbances [13] - Huatai Securities noted that while the market's downside is manageable, the upside potential remains limited, with sentiment indicators still in a pessimistic range [13] - Ping An International expects the market to maintain a volatile stance in the short term, with potential rotation in investment styles and main lines [14] - Jianyin International suggests buying on dips before the spring market in early 2025, focusing on high-yield stocks and sectors like technology, high-end manufacturing, and new energy [14]

Core Insights - Douyin has upgraded its batch infringement reporting tool, allowing users to report up to 2,000 instances of infringement at once via a PC website, addressing user pain points in reporting difficulties and inefficiencies [1][2][5] - The tool supports various infringement scenarios, including portrait rights, privacy rights, personal reputation rights, corporate reputation, and copyright, enhancing user efficiency in protecting their rights [1][7] - This upgrade follows a previous feature launched in May that prevents the spread of similar infringing content, further reducing the cost of repeated reporting for users [1][7] User Experience Improvements - The new batch reporting tool simplifies the reporting process, allowing users to copy and paste links in one go, significantly reducing the complexity compared to the previous method of reporting multiple items individually [2][5] - Users can track the progress of their reports in real-time, with a detailed history of submissions, including types of infringement, descriptions, submission times, and current statuses, which helps avoid duplicate reports [3][4] Legal and Operational Efficiency - Legal professionals have noted that the upgraded tool saves significant time by providing clear visibility into submission times and processing statuses, transforming the reporting process from "blind waiting" to "precise control" [5] - The platform aims to enhance its rights protection system in response to the evolving landscape of online infringement, addressing issues like trademark counterfeiting and damage to corporate reputation more effectively [7] Future Developments - Douyin plans to continue iterating on the batch reporting tool based on user feedback, aiming to further simplify the reporting process and reduce the costs associated with online rights protection [7]

受隔夜美股科技股下挫影响，12月18日，港股再度低开向下，恒生科技指数跌逾1%。科网龙头多数回 调，截至发稿，小米集团-W下跌3%，阿里巴巴-W、快手-W跌逾1%，腾讯控股、美团-W跟跌。 重仓互联网龙头的港股互联网ETF（513770）场内价格现跌0.95%，盘中持续宽幅溢价，显示买盘资金 积极吸筹。上交所数据显示，港股互联网ETF（513770）近10日连续吸金，合计获资金净流入逾11亿 元。 分析认为，近期港股反复调整，主要受到多重因素影响，包括海外流动性担忧、年底资金获利了结、南 向资金流入速度放缓以及12月的解禁高峰等。市场在震荡中寻找方向。 随着科技龙头的回调深入，机构总体对年后港股修复预期较高，提示当下左侧布局机会。银河证券表 示，流动性宽松环境叠加政策利好，港股有望震荡上行。科技板块仍是中长期投资主线，经历前期调整 后估值回落，在多重利好因素提振下，有望反弹回升。 提醒：近期市场波动可能较大，短期涨跌幅不预示未来表现。请投资者务必根据自身的资金状况和风险 承受能力理性投资，高度注意仓位和风险管理。 数据来源：沪深交易所等。中证港股通互联网指数近5个完整年度的涨跌幅分别为：2020年， 109. ...