进入2026年，全球宏观环境的不确定性并未消散，港股市场在估值修复与资金博弈中延续震荡格局。但 在市场情绪的起伏背后，一股来自上市公司内部的确定性力量正在积聚——以科技龙头为首的港股回购 潮持续涌动。当"真金白银"的回购叠加充沛的现金流，一批港股核心资产正在震荡市中构筑起资金的安 全垫。在此背景下，汇添富恒生港股通中国科技ETF联接C(025167)因其对这类企业的深度覆盖，展现 出独特的资金吸引力。 一、用数据说话：科技龙头掀起"回购浪潮" 回顾2025年至今，港股市场的回购图谱呈现出高度集中的特征——科技巨头是绝对的主力军。2025年全 年，腾讯控股以800.36亿港元的回购金额蝉联"回购王"，全年累计回购130次。进入2026年，龙头企业 的回购节奏不仅没有放缓，反而在开年便火力全开。 据市场公开数据，截至2026年2月21日，年内港股市场回购总额已突破254亿港元。其中，腾讯控股以 63.58亿港元的累计回购金额领跑全场；中通快递和小米集团紧随其后，回购金额达到41.03亿港元和 35.32亿港元。此外，舜宇光学科技等细分赛道龙头的回购金额也超过5亿港元。这一轮回购潮并非孤立 事件，早在2025年底， ...

有专家在接受证券时报记者采访时认为，上市公司积极回购股票，有利于优化股权与财务结构，夯实发 展基础，同时也传递出公司长期发展的积极信号。 人民财讯12月11日电，自11月以来，港股市场正在掀起新一轮回购潮，龙头科技公司回购活跃，引领本 轮港股回购潮。根据数据统计，11月，港股市场上市公司累计回购股份数量突破7亿股，较前期出现显 著增长。相比之下，8月至10月期间，月度回购股份数量分别为2.6亿股、5.3亿股和5.3亿股。进入12月 份以来，港股市场回购活跃的趋势得以延续，仅12月上旬短短几个交易日时间累计回购股份数量已超过 2.7亿股。 ...

Core Viewpoint - The Hong Kong stock market has experienced a pullback, prompting companies to actively repurchase shares as a response to declining stock prices [2]. Group 1: Company Actions - Tencent Holdings announced a share buyback on November 26, spending HKD 636 million to repurchase 1.022 million shares at a price range of HKD 618.5 to 629 per share. Year-to-date, Tencent has repurchased shares worth HKD 65.4 billion [2]. - On the same day, Xiaomi Group repurchased over HKD 300 million in shares, while China COSCO Shipping Holdings repurchased nearly HKD 40 million. Kuaishou repurchased over HKD 27 million, and Vitasoy International repurchased over HKD 26 million [2]. - Other companies such as SOTY Technology, Kingsoft, and Decon Animal Husbandry also initiated buybacks in the million-dollar range [2]. Group 2: Market Context - The aggressive buyback activity is largely attributed to the continuous decline in stock prices, with Xiaomi Group's stock price dropping over 30% since the end of September. Consequently, Xiaomi has conducted multiple share repurchases [2]. - On November 24, Xiaomi's founder and CEO Lei Jun personally invested over HKD 100 million to buy 2.6 million shares at an average price of approximately HKD 38.58, increasing his ownership stake to 23.26% [2]. - Analysts suggest that the current wave of buybacks is a result of both corporate value assessments and market conditions, with many Hong Kong companies being perceived as "undervalued," making buybacks a direct way to convey confidence [2].