超110亿港元，港股龙头公司积极回购

Group 1 - The core viewpoint of the news is that leading companies in the Hong Kong stock market are actively repurchasing their shares, indicating confidence in their business prospects despite a general decline in repurchase amounts across the market [1][3][5] - Xiaomi Group announced a plan to repurchase up to 2.5 billion HKD of its B shares, starting on January 23, 2026, as part of its strategy to demonstrate confidence in its future [1][6] - Tencent Holdings has emerged as the "repurchase king," having repurchased shares worth over 6 billion HKD in 2026, reflecting its strong market position [2][3] Group 2 - The overall repurchase activity in the Hong Kong market has decreased, with 108 companies participating in repurchases in 2026, down from 121 in the previous year, and the total repurchase amount has also significantly shrunk [3][4] - Despite the overall decline, leading companies like Xiaomi and Tencent continue to show strong repurchase activity, with Xiaomi repurchasing 60.56 million shares for 2.25 billion HKD and Tencent repurchasing 10.205 million shares for 6.358 billion HKD [3][4] - Pop Mart has made its first share repurchase in nearly two years, spending 251 million HKD to buy back 1.4 million shares, which has positively impacted its stock price [4][5] Group 3 - The repurchase trend is seen as a signal that companies believe their stock prices are undervalued, which can help stabilize investor confidence and support stock prices [3][8] - The Hong Kong stock market has experienced a significant repurchase wave in 2024, with 279 companies repurchasing shares worth 265.51 billion HKD, but this momentum has slowed in 2025 and 2026 [3][8] - The introduction of stock buyback reforms by the Hong Kong Stock Exchange in 2024 allows companies to retain repurchased shares for employee stock plans, enhancing the strategic value of buybacks [8]