Financial Services Association, March 28 (Editor: Hu Jiarong) Today, the Hong Kong Stock Technology Index continued to rise, rising more than 4% during the intraday period. As of press release, the index had risen 3.43% to 3509.86 points.

Judging from the performance of the Technology Index's constituent stocks, as of press release,$BILIBILI-W (09626.HK)$An increase of nearly 9%,$MEITUAN-W (03690.HK)$,$JD-SW (09618.HK)$An increase of nearly 7%,$WB-SW (09898.HK)$An increase of more than 5%,$LI AUTO-W (02015.HK)$An increase of 4%,$KUAISHOU-W (01024.HK)$,$BABA-SW (09988.HK)$An increase of more than 3%,$TENCENT (00700.HK)$Up nearly 2%.

Recently, a number of Internet companies have announced their results one after another, and the overall performance has shown a relatively positive recovery trend. Market Focus: Tencent Holdings' 2023 revenue was 609.015 billion yuan, up 10% year on year; net profit was 115.2 billion yuan, up 39% year on year; adjusted net profit was 157.6 billion yuan, up 36% year on year; net profit was 27 billion yuan, down 75% year on year; adjusted net profit was 42.7 billion yuan, up 44% year on year, up more than 30% year on year for 3 consecutive quarters.

Meituan's revenue in 2023 increased 25.8% year-on-year to reach 276.745 billion yuan, operating profit was 13.415 billion yuan, and adjusted net profit was 23.253 billion yuan, achieving a record high of operating profit for the whole year. At the same time, the operating loss of the new business segment also narrowed to 20.2 billion yuan.

The repurchase situation of internet companies has attracted market attention

In addition to performance, Internet companies' share repurchase actions have also become the focus of investors' attention. The Internet sector experienced significant stock price retracement during previous market adjustments. In order to stabilize capital market expectations and show the company's confidence in its own value and future growth prospects, several Internet companies announced large-scale repurchase plans.

Well-known internet companies such as Tencent Holdings and Meituan-W have begun to implement these repurchase plans. The scale of the investment is huge, and the cumulative amount has reached several billion or even close to 10 billion Hong Kong dollars.

Tencent previously announced that the repurchase scale will at least double in 2024, from HK$49 billion in 2023 to over HK$100 billion in 2024. Huachuang Securities believes that Tencent's 100 billion repurchase plan is expected to offset shareholders' financial pressure to reduce their holdings.

Alibaba Group also announced the latest progress of its repurchase plan. The company's board of directors has approved an increase of 25 billion US dollars in the share repurchase plan, which is valid until the end of March 2027. After the scale increase, Ali Group will still have a share repurchase quota of US$35.3 billion over the next three fiscal years.

These internet companies' repurchase initiatives not only help increase earnings per share and drive up stock prices, but more importantly, they can send a positive signal to the market and enhance investors' confidence in the company's future development prospects.

Editor/Somer