Source: Zhitong Finance

Technet stocks were collectively higher in early trading, driving the Hengke Index up more than 3%. As of press release,$BILIBILI-W (09626.HK)$Up more than 5% to HK$117.0;$MEITUAN-W (03690.HK)$Up more than 4% to HK$109.7;$TENCENT (00700.HK)$Up more than 4% to HK$374.6;$XIAOMI-W (01810.HK)$It rose more than 3% to HK$18.04.

According to the news, Tencent Holdings announced that 2.73 million shares were repurchased on May 31, with a repurchase amount of HK$1.03 billion. According to reports, since May 17, the company has repurchased for 11 consecutive days, with a total repurchase of 27.55 million shares, with a cumulative repurchase amount of HK$10.445 billion. Furthermore, according to WeChat's official rumor refutation platform, on May 31, there were reports that WeChat Pay was asked to reduce its market share, which attracted market attention. It has been confirmed that the relevant rumor is untrue; it is pure rumor.

Societe Generale Securities pointed out that the valuations of leading Hong Kong internet companies have entered the logic of value stocks, and the share of short sales is still too high. With the optimization of the competitive landscape of the industry, the profitability and stability of leading Internet companies continues to improve, and dividends and repurchases are increasing. Anxin International, on the other hand, pointed out that recent stock prices and fundamental characteristics of Internet stocks are: financial performance and management expectations do not have many surprises in the current macro context; profit improvements are generally superior to revenue improvements; and the market pays more attention to factors other than performance, such as shareholder returns, dividend rates, and increases or decreases in major shareholders' holdings.

editor/tolk