NextFin News — On the evening of July 6, 2026, short-video operator Kuaishou Technology announced via a voluntary filing on the Hong Kong Stock Exchange that its primary institutional backer, Tencent Holdings, had sharply downsized its equity stake.

Operating through its wholly-owned subsidiary Tencent Mobility, the internet giant cut its position using an off-market block trade executed directly after the trading session. The surprise move immediately sent ripple effects through the broader tech market.

According to the official disclosure, Tencent disposed of a total of 272.9 million Class B shares to several independent third-party buyers. Following the close of the transaction, Tencent's total voting rights and equity ownership in Kuaishou fell from approximately 15.68% to 9.37%.