近1800亿港元！238家公司出手回购

Core Viewpoint - The Hong Kong stock market has seen a significant increase in share buybacks this year, indicating a growing confidence among listed companies in the market [1][8]. Group 1: Buyback Activity - From January 1 to July 11, 2025, a total of 238 Hong Kong-listed companies repurchased approximately 69.88 billion shares, with a total buyback amount reaching nearly 1800 billion HKD [2][4]. - The number of companies participating in buybacks and the volume of shares repurchased have increased year-on-year, suggesting a broader participation in share repurchase activities [5][8]. - The top ten companies by buyback amount include HSBC, Tencent, AIA, Standard Chartered, Alibaba, Prudential, COSCO Shipping, Beike, China National Building Material, and Midea Group, with the top five companies repurchasing over 100 billion HKD each [5][6]. Group 2: Major Players in Buybacks - HSBC leads the buyback amounts at 435.25 billion HKD, followed by Tencent at 400.43 billion HKD, and Alibaba at 118.79 billion HKD [6][7]. - Tencent has consistently ranked at the top for buyback amounts, with daily repurchase amounts exceeding 5 billion HKD [7]. Group 3: AI Investments and Market Confidence - The increase in buyback activities reflects the companies' strong confidence in the market and their own financial strength [8]. - This year, the buybacks by technology giants are accompanied by significant investments in AI, indicating a strategic shift in capital allocation [9]. - Tencent's first-quarter report shows a revenue of 1800.2 billion RMB, a 13% year-on-year increase, with substantial investments in AI and capital expenditures [10][11]. - Alibaba plans to invest over 380 billion RMB in cloud and AI hardware infrastructure over the next three years, surpassing its total investment in the past decade [12].