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Home News Equities

Tencent’s Record Share Buyback Amid Pentagon List Fallout

by Team Lumida
January 8, 2025
in Equities
Reading Time: 3 mins read
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Key Takeaways:

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• Tencent executed its largest one-day share buyback in 18 years ($193M)
• Company was recently added to Pentagon’s list of Chinese military-linked firms
• Leading Hong Kong-listed company in buybacks for 2024, surpassing HSBC
• Stock down 48% from 2021 peak amid various headwinds

What Happened?

Tencent made an aggressive move to support its share price by purchasing 3.93 million shares worth $193 million in a single day, marking its largest buyback since 2006. This action came in response to a sharp stock decline following the company’s unexpected addition to a U.S. Defense Department list identifying firms with military connections. Tencent has disputed this classification, calling it a “mistake” and seeking removal from the list.

Why It Matters?

The massive buyback signals Tencent’s commitment to maintaining shareholder value amid mounting pressures. As China’s largest public company by market cap, its actions carry significant weight in the broader market. The situation highlights the growing tensions between U.S.-China relations and their impact on global tech companies. Analysts from Deutsche Bank and Goldman Sachs view the buyback strategy as a crucial support mechanism for the stock, particularly in offsetting capital outflow impacts.

What’s Next?

Investors should watch for continued volatility in Chinese tech stocks, particularly leading up to China’s national congress in March. Key factors to monitor include Tencent’s appeal against the Pentagon listing, potential tariff developments, and Chinese policy actions. The company’s aggressive buyback strategy, which has already reached $14.4 billion, is likely to continue as it balances shareholder returns with ongoing pressure from major stakeholder Prosus’s stake reduction. The effectiveness of these buybacks in stabilizing the stock price will be a crucial indicator of market confidence.

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© 2025 Lumida Wealth Management LLC is an SEC registered investment adviser. Privacy Policy. Cookies Policy.
Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
‍Address: Lumida Wealth Management, 25 W 39th Street Suite 700, New York, NY 10018