港股回购热度升温！209家公司累计回购超1000亿港元，腾讯400亿居首

Core Viewpoint - The Hong Kong stock market is experiencing a significant increase in stock buybacks, with 209 companies repurchasing a total of 4.466 billion shares and spending over 100 billion HKD this year, indicating a broader participation in buyback activities compared to the previous year [1][3]. Group 1: Buyback Trends - A total of 209 Hong Kong-listed companies have engaged in stock buybacks this year, with a cumulative repurchase of 4.466 billion shares and an expenditure exceeding 100 billion HKD [1]. - The number of companies participating in buybacks has increased by 9 compared to the same period last year, reflecting an expanding coverage of buyback activities among listed firms [1]. - Major companies such as Tencent Holdings, Kuaishou-W, HSBC, and AIA have made substantial buybacks, with Tencent leading at 40.043 billion HKD [3]. Group 2: Industry Participation - The buyback activities span multiple key sectors, including internet technology (Tencent, Kuaishou-W), finance (HSBC, AIA), materials (China Hongqiao), and healthcare (WuXi Biologics) [3]. - Tencent Holdings has repurchased shares on 62 trading days, averaging over 600 million HKD per day, with significant single-day repurchases reaching 1.503 billion HKD on specific dates [3]. Group 3: Policy Impact - The upcoming stock repurchase reform by the Hong Kong Stock Exchange, effective June 2024, allows companies to hold repurchased shares as treasury stock instead of mandatorily canceling them, enhancing buyback efficiency [4]. - This reform provides companies with greater flexibility and convenience in managing their buyback activities, which is expected to further stimulate repurchase actions [4]. - The trend of stock buybacks is viewed as a means to enhance shareholder value, especially when companies have excess cash flow and lack high-return investment opportunities [4].