As of July 21, 2025, the trend of share repurchases among Hong Kong-listed companies has continued to gain momentum. A total of 209 listed firms have collectively repurchased 4.466 billion shares, amounting to over HK$100 billion. This represents an increase of 9 participating companies compared to the same period last year. Leading the charge are financial enterprises such as HSBC Holdings, alongside internet technology giants like Tencent Holdings and Kuaishou-W, which have frequently engaged in large-scale share repurchases. These actions underscore the companies' profound confidence in their own valuations and serve as a powerful vote of confidence to the market.