Kuaishou spent nearly HK$100 million on September 3 to repurchase 2.5776 million shares, totaling over HK$1.1 billion in repurchases since August.

After the market on September 3, KUAISHOU-W(01024) announced that it had spent 99.8918 million Hong Kong dollars to repurchase 2.5776 million shares. It is reported that Kuaishou had previously announced on May 22 of this year that it planned to repurchase stocks not exceeding 16 billion Hong Kong dollars over the next three years starting from the end of the 2024 shareholders' meeting. As of now, Kuaishou's new round of stock repurchase plan has accumulated a repurchase amount of approximately 1.73 billion Hong Kong dollars since its implementation in June of this year, repurchasing approximately 40.309 million shares. In August alone, the repurchase amount exceeded 1 billion Hong Kong dollars. According to Kuaishou's latest financial report for the second quarter of 2024, in the second quarter of 2024, Kuaishou's total revenue reached 31 billion yuan, a year-on-year increase of 11.6%. Adjusted net profit reached 4.7 billion yuan, with an adjusted net profit margin of 15.1%, reaching a historical high. In terms of cash reserves, as of June 30, 2024, Kuaishou's total cash and cash equivalents, fixed deposits, restricted cash, and financial products amounted to 77 billion yuan.