Repurchase Background: Stable

China concept stocks suffered a bloodbath last year, and even giants like $Alibaba(BABA.US)$ $PDD Holdings(PDD.US)$ were not spared. Pinduoduo’s share price fell from a peak of $212.6 to 39.99 (as of the close on March 22, 2022), a drop of 81%. Ali's stock price plummeted from $319.32 to $103.59 (close on March 22), a drop of 68%, and the market value evaporated more than $550 billion, equivalent to more than 3 trillion yuan. Chinese concept stocks suffered a cold winter in the U.S. market, causing many companies to delist or return to Hong Kong for secondary listings.
The repurchase of shares of listed companies is generally to reward employees and stabilize the stock price, so as to enhance the control of the company, but there is also a situation where the management feels that its stock price is undervalued. In general, the company is still optimistic about the company's repurchase of shares.
$Tencent(TCEHY.US)$ $JD.com(JD.US)$ $Baidu(BIDU.US)$