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In the past two trading days, Tencent Holdings in the Hong Kong stock market has conducted the 100th and 101st repurchase operations of the year.

On November 22, Tencent Holdings disclosed that it repurchased 1.23 million shares on the same day at a cost of 401 million Hong Kong dollars. This is the 100th time Tencent has repurchased this year. On November 23, Tencent Holdings repurchased 1.23 million shares again. Since the beginning of this year, Tencent Holdings has repurchased 113 million shares, and the cumulative repurchase amount 37.382 billion Hong Kong dollars.

As of the close on November 23, Tencent’s share price was HK $329.2 per share, a cumulative rebound of about 17% from the phased low set on October 25. Based on the total repurchase price/cumulative number of repurchases, the average repurchase price of Tencent during the year was HK $332.03 per share, slightly higher than the current price.

All repurchased shares have been cancelled in the first three quarters

Statistics show that since last year, Tencent’s average daily repurchase amount has gradually increased. From the end of August last year to the end of May this year, Tencent’s daily repurchase amount was about 350 million Hong Kong dollars. But since June this year, Tencent’s average daily repurchase amount has increased to about 400 million Hong Kong dollars, evolving into "four hundred million".

In February 2021, Tencent’s share price reached a peak of HK $704.6/share, but due to the reduction of major shareholders, changes in international financial marekt and market concerns about the slowdown in the company’s growth rate, Tencent’s share price has been under pressure. At the end of October 2022, Tencent’s share price once fell to HK $187.29/share. Since then, Tencent’s share price has bottomed out and rebounded. In March this year, the share price was close to HK $400/share, and then continued to fluctuate. As of the close of November 23, Tencent’s share price was HK $329.2/share.

Since October 25, 2022, Tencent’s share price has risen by nearly 70%, which is related to the favorable policies of the Internet sector, the improvement of its own performance, and the spare efforts to repurchase.

Tencent Holdings disclosed in the 2022 annual financial report that in 2022, Tencent repurchased about 107 million shares, which cost more than 33.80 billion Hong Kong dollars. Since 2023, Tencent has repurchased 113 million shares, which cost 37.382 billion Hong Kong dollars. This means that the amount of repurchases this year has exceeded that of last year.

The general manager of a private equity firm in Shenzhen said that Tencent is a company with strong cash flow. In the past, Tencent bought many high-quality company assets through foreign investment, which drove the growth of the company’s revenue and total profit. Since the second half of 2021, Tencent’s foreign investment has declined, and its huge operating cash flow has been concentrated in share buybacks.

Tencent’s buyback partly hedged a sell by Prosus, South Africa’s largest shareholder.

On June 27, 2022, Tencent announced on the Hong Kong Stock Exchange that the company’s major shareholders, Prosus and Naspers, announced that they would start a long-term, open-ended repurchase plan, and the repurchase funds would be obtained through the orderly small sale of Tencent shares by the South African newspaper group.

"In April this year, Prosus deposited 96 million shares of Tencent into the Hong Kong clearing system. It is estimated that Prosus reduced its holdings of Tencent by about 1 million shares per day, accounting for about 4% of Tencent’s average daily turnover. This is roughly equivalent to Tencent’s average daily repurchase of about 1.20 million shares," said Zang Hailiang, director of investment at Yide Wealth.

Regarding the arrangement of share repurchase, Tencent said in the third quarter of this year’s performance report that in the third quarter of 2023, Tencent bought back 47.519 million shares at a total consideration price of about 15.30 billion Hong Kong dollars (excluding expenses) on the Hong Kong Stock Exchange, and these shares have been cancelled. In previous performance reports, Tencent also released similar content.

As of November 23, Tencent’s total share capital had fallen to 9.508 billion shares, close to the total share capital in May 2019. "According to the rules, the repurchase of US and Hong Kong stocks has to be cancelled, thereby reducing the total share capital, which can increase earnings per share while the profit remains unchanged. Over time, the value of the shares in the hands of Tencent’s remaining shareholders will increase," said a senior market person in Hong Kong stocks.

Performance returns to a high-growth track

This year, Tencent returned to the high growth track. Recently, Tencent disclosed the third quarter of 2023 financial report, revenue 154.625 billion yuan (both in RMB, the same below), an increase of 10%; non-international general accounting standards under the net profit of 44.921 billion yuan, an increase of 39%. In the previous two quarters, Tencent’s revenue and net profit growth were also double digits.

Tencent has gradually built up a diverse range of business segments, including value-added services, online advertising, financial technology, and enterprise services.

In the third quarter of 2023, Tencent’s value-added service business revenue was 75.748 billion yuan, an increase of 4% year-on-year, accounting for 49% of total revenue; online advertising business revenue was 25.721 billion yuan, an increase of 20%, accounting for 16% of total revenue; financial technology and Enterprise Services business revenue was 52.048 billion yuan, an increase of 16%, accounting for 34% of total revenue.

"In the third quarter of 2023, we achieved solid and high-quality revenue growth, significant margin improvement, and structured operating leverage. Emerging businesses such as WeChat Channels and Mini Games contributed to our high-margin revenue streams," said Pony Ma, chairperson and chief executive of Tencent.

In light of the development trend of the technology industry, Tencent’s focus is on laying out the AI model. "We are shifting our focus from businesses with less room for development to businesses with higher growth potential," said Pony Ma. "We are investing more in artificial intelligence models to give our products new functions and improve the ability to accurately recommend content and advertising. We are not only committed to positioning our leading artificial intelligence capabilities as a multiplier for our own business development, but also to create value for our corporate customers and society as a whole."

As of November 22, southbound funds held Tencent’s total market value of HK $2958.49 billion, accounting for 9.59% of the issued ordinary shares. However, with the continuous rebound of Tencent’s share price, southbound funds have recently been on the trend of picking up and selling shares in Tencent.

The Beijing Auto Show kicked off, looking forward to the car carrying U8, U9 and U7 at the W1 Hall, and all the products attracted the attention of the audience. On the opening day, I look forward to the official launch of the U8 cross-country player version, with a starting price of 1.098 million yuan; At the same time, the million-class new energy flagship sedan looks to U7 to complete its offline debut. It is worth noting that Yunqi -Z, a revolutionary technology carried by U7, made its debut, further expanding the Yunqi technology family.

Looking up, since its establishment, we are determined to create high-end brands with cutting-edge technology and bring unprecedented product experience to consumers. The brand relies on six core technologies, namely Easy Sifang, Yunqi, Blade Battery, Super Body, Intelligent Cockpit and Intelligent Assisted Driving, to build a look-up architecture, and through flexible combination, it has created a variety of high-end products covering hard-core off-road, performance supercar and flagship car for different application scenarios.

On the first day of the auto show, Yunqi -Z technology was shocked and released, and it was first applied to look up at U7. This revolutionary technology replaces the traditional hydraulic shock absorber with four highly integrated suspension motors, and the response speed is increased to 10 milliseconds, which is several times faster than the traditional active suspension. Abandoning the oil medium, the energy transmission loss is significantly reduced, and the suspension motor can directly generate electricity, realize energy recovery and charge the battery. The appearance of Yunnian -Z marks that the suspension has entered the era of "electricity", which has achieved a revolutionary leap in adjustment speed and accuracy, bringing unprecedented super-stable and super-safe driving experience to users.

With the release of Cloud -Z technology, we hope to add new members to Cloud-Z technology family. Looking up to U7 as a million-class flagship car, it is the first to take Yunqi -Z technology, bringing users a ride comfort beyond the maglev train. Looking up to U9 as the first pure electric performance supercar equipped with Yunxiao -X, it breaks the performance boundary between track and street, and has the ultimate control and daily driving comfort. The new energy hard-core cross-country looks up to U8, and the first vehicle is equipped with Yunqi -P, which makes the vehicle have both urban driving comfort and cross-country crossing ability. Looking forward to the deep integration of Yunqi intelligent body control system and Yifangfang technology, we can realize the only accurate control of vertical and horizontal three-dimensional body posture in the world, break the product scene restrictions and bring unprecedented car experience to users.

This Beijing Auto Show, looking forward to U8 Deluxe Edition and Off-road Player Edition, looking forward to U9, looking forward to U7 being exhibited on the same stage for the first time, concentrated on showing a million-level high-end product matrix based on Yifangfang and Yunxiao technology.

Looking forward to the launch of U8 Off-Road Player Edition, the price is 1.098 million yuan, which has attracted much attention for its excellent off-road performance, distinctive off-road style and attributes. This model is based on two subversive technologies: Easy Sifang and Yunqi-P. It is equipped with unique configurations and functions such as full-scene vehicle-mounted satellite communication, near-far infrared night vision system, and the world’s first deeply integrated vehicle-mounted UAV system, which refreshes the off-road experience standard and sets a new benchmark for off-road safety.

Looking up to U8 cross-country player edition provides users with security beyond their peers. The standard vehicle-mounted satellite communication scheme ensures that users can maintain external communication in areas without signal, and can also use it normally while driving without manually searching for satellite signals. In addition, the near-far infrared night vision system equipped on the vehicle can sense the road conditions around the clock in complex environments and lighting conditions such as sandstorm, smog and backlight, and has collision warning function to provide users with all-round security.

Looking up to the U8 off-road player version, you can choose the world’s first deep-integrated vehicle-mounted UAV system, and the optional price is 100,000 yuan. The deep integration of vehicles and drones significantly simplifies the operation difficulty of drones, supports functions such as "one-button take-off, intelligent follow-up", and allows users to easily enjoy the novel shooting perspective and driving pleasure brought by on-board drones.

Looking up to the U8 cross-country player version, while maintaining 1200 horsepower, it comes standard with a wading throat, with a maximum wading depth of 1.4 meters. It has the ability of emergency floating and calmly responds to the wild wading environment. At the same time, the approach angle, departure angle and longitudinal passing angle of the vehicle are optimized to reach 37.5, 38 and 26.5 respectively, which greatly improves the off-road trafficability. In addition, this model provides 17+1 driving modes, which effectively enhances the all-terrain conquest ability.

Compared with the Deluxe Edition, Wangwang U8 Cross-country Player Edition adopts a more wild and practical exclusive interior and exterior design, providing more personalized modification space. The interior adopts black and green color matching, showing off-road atmosphere; The appearance is available in two colors: sandstone green and obsidian black. 20-inch cross-country forged wheels and AT tires are standard, and various optional kits such as loading kit, trailer kit and luxury comfort kit are provided.

Looking forward to the first show under the U7 line, as a million-class flagship car, it is equipped with the leading-edge Yifangfang technology and revolutionary Yunqi -Z technology, supplemented by the "Eye of the God" advanced intelligent driving assistance system, which ensures driving safety all the time and brings unprecedented extreme driving experience to users.

Looking up to U7 equipped with easy Sifang technology, the horsepower of the whole vehicle is as high as 1,300 horsepower, and the acceleration of 0-100km/h takes only 2.9 seconds. At the same time, it can easily control the urban road conditions, and at the same time, it can independently adjust the four-wheel torque in milliseconds, calmly cope with the change of road adhesion, successfully challenge Yabuli’s ice and snow platform, and show the strong control of easy Sifang on the body posture. The revolutionary suspension technology Yunqi -Z replaces the traditional hydraulic shock absorber with four suspension motors, which actively eliminates the road force and creates a ride comfort beyond the maglev train for users. In addition, U7 comes standard with the high-performance carbon ceramic brake disc independently developed by BYD, and combined with the excellent electric braking ability of Yifangfang, the braking distance of 100-0km/h is 33 meters.

It is particularly worth mentioning that under the test standard of 120km/h, the drag coefficient of U7 is as low as 0.195, which is the lowest record of mass production vehicles in the world, and the seating space is not sacrificed, ensuring a spacious and comfortable rear row space. In August, 2023, Wangwang U7 was certified by the authoritative organization as the advanced technology model of automobile aerodynamics in 2023 (C-STAA model).

Looking forward to the U7 design, it follows the family language of "dimension door", blends modern design with traditional inspiration, and shapes the unique aesthetic style of the flagship car with millions of new energy in the new era. Simple and elegant body lines and innovative aerodynamic design constitute its distinctive recognition characteristics, giving the flagship car a brand-new luxury attribute under the new form and proportion. Combining elegance and technology, we hope U7 will hit a new high at the top of the flagship and lead the aesthetic trend of new energy flagship cars in the new era.

Since the first exhibition at the Shanghai Auto Show in 2023, I hope that the brand will continue to expand its product and technology matrix in one year, and the whole lineup will be unveiled at the Beijing Auto Show in 2024. Looking forward to always adhering to the belief of building high-end brands with the ultimate technology, and continuing to promote the development of new energy automobile industry to a higher dimension with the most cutting-edge technology applications, the most forward-looking technology ideas and the deepest vertical integration. Facing the future, looking forward to giving "electricity" unlimited imagination, we will continue to carry out pioneering exploration and scene innovation with top aesthetic, performance and engineering capabilities, and inject the ultimate product strength into its models.

　　Cctv newsAccording to the China Weather Network, the Central Meteorological Observatory issued a blue warning of strong convective weather at 10: 00 on May 12:

　　It is estimated that there will be 8-10 thunderstorm gale or hail weather in parts of central and northeastern Hebei, northwestern and southern Beijing, southern Tianjin, central and western Jilin, northwestern Liaoning and northern Shandong from 14: 00 on May 12th to 14: 00 on 13th. There will be short-term heavy rainfall in parts of central Jilin, western Liaoning, north-central Hebei, northwest Beijing, southern Tianjin, northern Shandong, southern Sichuan, southern Yunnan, southeastern Guangxi, southwestern Guangdong and Hainan Island, with an hourly rainfall of 20-40 mm and a local area of more than 50 mm.

　　It is estimated that the main influence period of strong convection is from afternoon to night today.

　　Defense guide:

　　1. The government and relevant departments shall, in accordance with their duties, prepare for short-term rainstorm prevention, lightning protection and gale prevention, and the meteorological department shall prepare for artificial hail suppression;

　　2. Outdoor pedestrians and staff should reduce outdoor activities and pay attention to stay away from structures such as scaffolding billboards;

　　3. Drive poultry and livestock into places with roofs, and close doors and windows to reinforce sheds;

　　4. The water operations in relevant waters and passing ships shall take active measures such as returning to Hong Kong to avoid or detour navigation, pay attention to covering building materials at the construction site, and properly arrange outdoor items susceptible to heavy rain, wind and hail;

　　5. Check the drainage system of cities, farmland and fish ponds, and prepare for drainage and defense against disasters such as mountain torrents, landslides and mudslides.