Zheng Quan Shi Bao·2025-08-20 00:01Group 1 - Tencent Holdings has resumed its stock buyback program after the earnings "quiet period," signaling strong confidence in the company's long-term value [1][2] - On August 18, Tencent repurchased approximately 931,000 shares at a cost of about 550 million HKD, marking the start of a new buyback round [2][4] - Year-to-date, Tencent's total buyback amount has exceeded 40 billion HKD, reflecting management's commitment to the company's long-term value [2][4] Group 2 - The total buyback amount for Hong Kong-listed companies has reached approximately 1,074.81 billion HKD, with Tencent leading at 405.93 billion HKD [4] - Compared to the same period in 2024, the buyback activity has decreased significantly, with a drop of nearly 600 billion HKD in total buyback amounts [4][5] - The reduction in buyback activity is seen as a reasonable market response as the Hong Kong stock market has shown recovery, with the Hang Seng Index rising over 25% year-to-date [5] Group 3 - Tencent has strategically planned its buyback windows to minimize the impact of the "quiet period," despite not applying for an exemption [3] - The company's total share capital has decreased from approximately 9.629 billion shares in July 2022 to 9.225 billion shares by the end of 2024, enhancing earnings per share (EPS) for shareholders [3] - The trend of share buybacks is gaining traction among companies as it is seen to provide better market value management compared to cash dividends [3]