Alibaba Group announced that it repurchased $1.3 billion worth of American Depositary Receipts (ADRs) in the fourth quarter of 2024. This buyback is part of a larger strategy, as the company revealed it spent a total of $16 billion on share repurchases throughout the year. In the same timeframe, Tencent Holdings completed a buyback program amounting to HK$112 billion, successfully fulfilling its commitment to repurchase at least HK$100 billion in shares. By December 31, 2024, Tencent had bought back 307 million shares, contributing to a total repurchase of HK$187.6 billion since June 2022, when Prosus began selling its Tencent shares.