Express News | According to information from the Hong Kong Exchange, BlackRock's stake in Kuaishou-W H shares decreased from 5.18% to 4.98% on June 8.

BreakingsJun 12 17:10

CICC: Valuations in China's AI internet sector remain attractive; top picks include Alibaba, Zhipu AI, Kuaishou, and JOYY.

China Merchants Securities published a research report stating that the commercialization of artificial intelligence (AI) is accelerating, and valuations in China's AI-driven internet sector remain attractive. The firm noted that, following a reset in market expectations, the Hang Seng Tech Index has underperformed in the second quarter to date compared with the first quarter. Although valuations for China’s internet sector remain near historical lows, first-quarter earnings demonstrated strong profit resilience. The firm emphasized that AI remains the core investment theme for China’s internet industry and continues to advance rapidly. On the enterprise (B2B) side, commercialization is accelerating steadily and increasingly permeating white-collar workflows; on the consumer (B2C) side, commercialization remains in its early stages, with WeChat Agents expected to serve as a key catalyst in the second half of the year.

AASTOCKSJun 12 10:22

June 11 Share Buyback Summary | Tencent and Xiaomi Group-W among companies conducting buybacks, with Tencent spending HK$5.01 billion

According to a filing disclosed by the Hong Kong Exchange on June 12, Tencent (00700.HK), Xiaomi Group-W (01810.HK), and others repurchased shares. ① Tencent (00700.HK) repurchased 1.083 million ordinary shares on June 11, amounting to HK$501 million, at prices ranging from HK$455 to HK$475.2 per share. Since the adoption of the share repurchase mandate, the cumulative number of securities repurchased has reached 18.3971 million shares, representing 0.20177% of the issued share capital as of the date the ordinary resolution was passed. ② Xiaomi Group-W (01

Futu NewsJun 12 09:30

Internet giants have raised nearly RMB 100 billion in offshore bond financing over the past year to fund their massive AI expenditures.

① On June 11, Tencent announced the successful issuance of RMB 15 billion in dim sum bonds with maturities of 10 to 30 years, marking the largest single dim sum bond offering this year. ② Bonds issued overseas by internet giants typically feature longer tenors, generally ranging from 5 to 10 years, better aligning with the investment and payback cycles in the AI sector.

cls.cnJun 12 20:11

Kuaishou-W (01024) repurchased 1.093 million shares on June 11 at a cost of HK$49.968 million.

Kuaishou-W (01024) announced that on June 11, 2026, it repurchased 1.093 million shares at a cost of HK$49.968 million.

Zhitong FinanceJun 11 20:09

JPMorgan upgrades Kuaishou (01024.HK) to 'Overweight' and raises target price to HK$71

JPMorgan published a research report upgrading Kuaishou-W (01024.HK) to “Overweight” from “Neutral,” and raised its target price for the stock to HK$71 from HK$48, valid through December 2026. The firm expects the value of Kuaishou’s Kling AI to be unlocked within the next 12 months. Based on Kuaishou’s recent announcements and news reports, external fundraising by Kling AI would trigger a revaluation of the asset by Kuaishou. The firm currently values Kling AI at USD 3.5 billion, supported by an expected price-to-sales (P/S) multiple of 30x for 2027 (Kuaishou's current market capitalization

AASTOCKSJun 11 11:52