Tencent Holdings shares fell below HK $250, the lowest since November 2018.

Thanks to CTOnews.com netizens, assassins for their clues delivery! Tencent Holdings shares fell below HK $250, the lowest since November 2018, with a market capitalization of only HK $2.4 trillion, CTOnews.com reported on October 12.

Tencent has conducted repurchase operations for 35 consecutive trading days, costing a total of HK $12.316 billion, with 72 repurchases and HK $22.329 billion in total during the year. The most recent buyback was on October 10, at a cost of about HK $353 million to buy back 1.3m shares.

CTOnews.com learned that in the first half of this year, Tencent Holdings had revenue of 269.505 billion yuan, down 1% from the same period last year, and net profit of 42.032 billion yuan, down 53% from the same period last year. Among them, the financial technology and enterprise services business, which supports Tencent's growth, earned 42.2 billion yuan in the second quarter, up only 1 per cent from a year earlier and down 10 per cent from a month earlier. It is also worth noting that Tencent will release its third-quarter results on November 16.