Tencent conference call: Pony Ma discusses the concept of "shrimp farming" for the first time, this year's AI investment will at least double, and intelligent agents will foster a new decentralized ecosystem

Tencent clearly identifies AI as a core strategy in its 2025 financial report, planning to at least double investments in mixed yuan and new AI products by 2026. In the short term, revenue growth may outpace profit. The company emphasizes that its core businesses (gaming, social, advertising) are highly resilient in the AI era and draws on its cloud business experience, viewing AI investment returns with a long-term perspective. At the same time, Tencent is optimistic about the decentralized opportunities brought by intelligent agents and plans to deeply integrate mixed yuan into ecosystems like WeChat, rather than engaging in monopolistic competition at the foundational model level