Zheng Quan Shi Bao·2025-08-19 18:51Group 1 - Tencent Holdings has initiated a stock buyback plan after the earnings quiet period, spending approximately 5.5 billion HKD on August 18 and 19 [1] - The total buyback amount for the year has exceeded 40 billion HKD, reflecting management's strong confidence in the company's long-term value [1] - The total share capital has decreased from approximately 9.629 billion shares in July 2022 to 9.225 billion shares by the end of 2024 [1] Group 2 - Compared to the same period in 2024, the buyback activity of Hong Kong-listed companies has weakened, with a total buyback amount of 1,645.50 billion HKD last year, nearly 600 billion HKD more than this year [1] - As the Hong Kong stock market gradually recovers, a reduction in buyback activity is seen as a reasonable market response [1] - The rising cost of stock buybacks due to increased valuations may lead companies to retain more capital for other business developments or investment projects [2]