Alibaba Group Holding Limited (ticker: $BABA) has announced a substantial share repurchase program for Q1 2025, during which it repurchased 51 million shares (6 million American Depositary Shares) for a total of $600 million. In addition, the company bought 75,900 ADRs on April 1, accounting for 0.6% of its trading volume, and another 76,600 ADRs on April 2, representing 0.4% of the volume. Meanwhile, Tencent Holdings Limited (ticker: $TCEHY) also engaged in share buybacks, purchasing 996,000 shares in Hong Kong trading on April 2, which constituted 6.9% of its trading volume. These buyback activities reflect both companies' strategies to enhance shareholder value amid market fluctuations.