On January 11, Xiaomi Group-W announced on the Hong Kong Stock Exchange that it would repurchase 2.1 million shares at a price of HK$18.12 to HK$18.22 per share, with a repurchase amount of 3814.13 million Hong Kong dollars.
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Since the beginning of this year, the stock has been repurchased five times in total, with a total of 9.625 million shares repurchased and a cumulative repurchase amount of HK$175 million.
In fact, since the first repurchase in March 2021, Xiaomi’s repurchase action has been uninterrupted. In March 2021, Xiaomi set a repurchase plan of up to 10 billion yuan, which once made Xiaomi the “repurchase king” of Hong Kong stocks in 2021 every month thereafter, Xiaomi will repurchase some of the company’s shares, and within 2021 the accumulative repurchase of about 343 million shares cost over HK$8.5 billion.
Moreover, not only Xiaomi, but also technology giants including Tencent, JD.com, and Ali are also repurchasing to maintain stability in the face of the falling stock price of Internet stocks.
(via)
