On July 7, Kuaishou-W (01024.HK) declined 6.39% in regular trading, trading at HK$42.9 per share, with turnover of HK$12.291 billion.

The decline was triggered by Tencent's large-scale divestiture announced after market close on July 6. Tencent sold approximately 272.95 million Class B shares of Kuaishou via off-market block trades to independent third-party buyers, at a price range of HK$43.15 to HK$44.53 per share, representing a roughly 6% discount to the July 6 closing price of HK$46. The transaction could yield up to approximately HK$12.5 billion in proceeds.

Following completion of the sale, Tencent's stake in Kuaishou dropped from approximately 15.68% to 9.37%, disqualifying it as a major shareholder under Hong Kong listing rules. Tencent stated it remains confident in Kuaishou's long-term prospects and that strategic cooperation will continue. Kuaishou noted the disposal is not expected to have any material adverse impact on operations. The company has also been executing its own HK$16 billion share buyback program, having repurchased approximately 1.748 billion shares totaling HK$8.35 billion to date.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)