Duang Yongping is at it again: bought Tencent (00700), also bought Maotai (600519.SH).

Recently, Maotai (600519.SH) and Tencent (00700) have both experienced varying degrees of decline. On January 9, well-known investor Duan Yongping posted on his social media account "The Way is Invisible, I Have Style" saying, "Today I bought Tencent and also bought Maotai." It is understood that Duan Yongping is highly respected in the entrepreneurial and investment industry. He has previously founded well-known brands such as BBK, OPPO, and Vivo, and became a legendary figure in the investment world for his investment in NetEase which returned many times over, earning him the title "Chinese Buffett." In 2024, Duan Yongping frequently mentioned Tencent and once again made a move to buy Tencent. At the time Duan Yongping made the above statement on Snowball, Tencent was facing negative news from the United States. On January 6, the U.S. Department of Defense included Tencent and other companies on a list of Chinese military companies. The next day, Tencent's stock price dropped by over 7%, with a total drop of over 10% in two days. Tencent stated in a release, "It is obviously a mistake for Tencent to be included on this list, as we are not a military company or military supplier. Unlike export controls or others, this list does not affect our business. Nevertheless, we will work with relevant U.S. authorities to resolve the misunderstanding." With the decline in stock price, Tencent has increased its buyback efforts. Data shows that starting from January 7, 2025, Tencent's repurchase amount in Hong Kong has remained around HK$1.5 billion for 3 consecutive trading days, more than doubling the amount of previous trading days. In several previous trading days, Tencent's daily repurchase amount was around HK$700 million. Similarly, Kweichow Moutai, which was also bought by Duan Yongping, recently conducted a buyback. On the evening of January 2, Kweichow Moutai announced that it had spent nearly 300 million yuan to repurchase 200,900 shares of the company through concentrated bidding trading for the first time, representing 0.0160% of the total share capital. On the evening of December 27, 2024, Kweichow Moutai announced that it planned to repurchase company shares through concentrated bidding trading, with a repurchase amount not less than 3 billion yuan (inclusive) and not exceeding 6 billion yuan (inclusive). The specific repurchase amount would be based on the actual amount of funds used to repurchase shares when the repurchase scheme was completed or when the repurchase period ended. Kweichow Moutai stated that the repurchased shares would be used for cancellation and reduction of the company's registered capital. The source of the repurchase funds is the company's own funds, and the repurchase price does not exceed 1771.90 yuan per share. Since the implementation of the company's mid-term profit distribution in 2024, the upper limit of the repurchase price was adjusted from 1795.78 yuan per share (inclusive) to 1771.9 yuan per share (inclusive). It is estimated that the number of repurchased shares would be approximately 1,693,098 to 3,386,195 shares, accounting for about 0.1348% to 0.2696% of the total issued share capital as of the date of this announcement. The repurchase period is within 12 months from the date of approval of the repurchase scheme by the shareholders' general meeting. As early as September 20, 2024, Kweichow Moutai announced its intention to repurchase shares with an amount not less than 3 billion yuan (inclusive) and not more than 6 billion yuan (inclusive) using its own funds through concentrated bidding trading, for the purpose of cancellation and reduction of the company's registered capital. The purpose of this buyback was to protect the interests of the company and investors, and strengthen investor confidence. The number of repurchased shares was between 1.67 million and 3.34 million shares, accounting for about 0.133% to 0.266%. The repurchase price did not exceed 1795.78 yuan per share (inclusive) (not more than 130% of the average trading price of the company's stock in the 30 trading days before the board of directors approved the repurchase resolution). It is understood that this is the first time Kweichow Moutai has implemented a buyback since its listing.