According to Zhitong Finance APP, Tencent (00700) rose nearly 6% in early trading, reaching a high of HKD 536, a new high in nearly three and a half years. As of the time of writing, it is up 5.64%, trading at HKD 534, with a transaction volume of HKD 163.94 million.
In terms of news, on March 3rd, Tencent's Yuanbao APP rose to first place in the free app download rankings in the Apple App Store in China, surpassing DeepSeek. It is reported that on February 22nd, Tencent Yuanbao surpassed Doubao, rising to second place in the free app download rankings in the Apple App Store in China. Notably, the Tencent Yuanbao App sparked discussions due to &#34;unfair terms&#34; in the user agreement of the old version, leading Tencent Yuanbao to issue an apology. Regarding the issue of intellectual property ownership, Tencent Yuanbao emphasized that the rights to the content input and output by users belong to the users or the corresponding rights holders, and using Yuanbao will not change this ownership.
Citi previously pointed out that DeepSeek is accelerating the adoption of the enhanced WeChat ecosystem and CSIG (Tencent Cloud and Industry Group), believing that the company's capital expenditure outlook is optimistic, and WeChat may transform into a super AI application. The bank stated that as Tencent's developed large language model &#34;Yuanbao&#34; climbed from 12th place in the productivity download rankings on February 1st to 2nd place on February 23rd, surpassing ByteDance's &#34;Doubao,&#34; and only behind DeepSeek, coupled with Tencent's recent restructuring of several key applications, including &#34;Yuanbao,&#34; into the CSIG business group, indicates that Tencent has strengthened its strategic priorities to fully embrace the shift of Chinese enterprises and individual users towards accelerated adoption of artificial intelligence

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Tencent rose nearly 6% in early trading, reaching a new three-and-a-half-year high of HKD 534. The Tencent Yuanbao APP has climbed to first place in the download rankings of the Apple App Store in China, surpassing DeepSeek. Citigroup pointed out that Tencent has strengthened its strategic priorities, with optimistic prospects for capital expenditure, and WeChat may transform into a super AI application. The user agreement of Tencent Yuanbao has sparked heated discussions, and Tencent has apologized for this, emphasizing that user content rights belong to the users

- Tencent's stock rose nearly 6% in early trading, reaching a three-and-a-half-year high of 536 HKD, with a current price of 534 HKD and a trading volume of 163.94 million HKD.  
- The rise follows Tencent's Yuanbao app topping the free app download chart in China's Apple App Store on March 3, surpassing DeepSeek, and previously reaching second place on February 22.  
- Citigroup noted that Tencent's strategic focus on enhancing its WeChat ecosystem and the development of its AI applications, including Yuanbao, reflects a positive outlook for the company's capital expenditures.

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Understanding the Market | Tencent rose nearly 6% in early trading, Tencent Yuanbao topped the download chart, Citigroup stated that Tencent has strengthened its strategic priorities