Review Tencent's repurchase actions in previous years:

From September 7 to October 12, 2018, Tencent repurchased 2.848 million shares in 24 trading days, with an average repurchase price of HK $311.38 and a total cost of HK $887 million.

From August 28 to October 11, 2019, Tencent repurchased 3.4867 million shares in 31 trading days, with an average repurchase price of HK $332.9 and a total cost of HK $1.161 billion.

From August 19 to September 30, 2021, Tencent repurchased 5.5818 million shares for a total of 27 trading days, with an average repurchase price of HK $465.62 and a cumulative cost of about HK $2.6 billion.

From June 28 to July 12 this year, Tencent repurchased for a total of 10 trading days, with a total repurchase amount of HK $3.012 billion. （clink it to konw more）

Haitong Securities once estimated in the research report that Tencent's average rise and fall relative to the Hang Seng Index's excess return in one month after the repurchase tide ended in history was 12.3%/8.1%, 46.9%/29.0% in three months, 75.2%/57.6% half a year later, and 118.6%/94.8% one year later. In 2008, Tencent launched 36 repurchases in five months, and its share price rose nearly 300% a year later.