UB#TENCTRC2607E

Tencent ramps up AI infrastructure investment to compete in the 'Post-DeepSeek Era'.

US 10% temporary global import surcharge effective February 24

Potential Trump-Xi meeting in April may ease tech restrictions.

Nintendo to host Switch and Pokémon related events on February 24.

Tencent ADRs maintain gains in intraday trading as market digests Lunar New Year data and overseas contraction news.

Tencent Holdings Expected to Go Ex-Dividend on May 19, Maintaining Annual Payout Tradition

Federal Reserve FOMC to announce interest rate decision on March 18, impacting global risk asset pricing.

League of Legends LCK Cup 2026 Finals to be held at Kai Tak Arena in Hong Kong

World of Warcraft: Midnight expansion expected to release

China steers AI market with discipline, favoring tech giants like Tencent

Zhitong Finance Analysis: US Supreme Court ruling reshapes market pricing logic, benefiting Hong Kong stocks and export chains

Southbound Stock Connect data to be released; Tencent sees continuous net inflows.

WeChat releases Lunar New Year data: Hong Kong offline transactions up 24%

US President Trump plans to visit Beijing in late March.

WeChat releases 2026 Spring Festival Data Report: 'Blue Envelope' gift orders surge 4x.

New valuation report highlights divergent views on Tencent's fair value.

Tencent's AI app 'Yuanbao' hits 50M DAU during Spring Festival, showing initial commercialization success

Tencent shares extend gains over 2% in afternoon trading as analysts eye AI potential.

Hong Kong Stocks Midday Review: Hang Seng Tech Index Surges Over 3%, Tencent Up More Than 3%

Tencent Holdings releases Q4 and Full Year 2025 financial results

KO YO GROUP

GEOTECH HLDGS

CHINA INFO TECH

REDCO HEALTHY

AGTECH HOLDINGS

CH CITY INFRA

RMH HOLDINGS

MATRIX HOLDINGS

SOFTMEDX

PUTIAN COMM

00700

TCTZF

SBUX

HEYTEA

TCEHY

The data report for the Lunar New Year 2026 released by the Tencent WeChat team shows that the number of transactions in Hong Kong and Macau increased by 24% and 39%, respectively. Offline transactions in travel and lifestyle entertainment both grew by over 20%. The transaction amount of mini-programs during the Hong Kong Spring Festival increased by over 70%, with daily active users of mini-programs such as HEYTEA, Mixue Ice City, and Starbucks growing by about 40%. The number of Hong Kong residents traveling to the mainland for medical consumption increased by 117%, indicating a new trend in health consumption

AASTOCKS

TENCENT

Tencent Holdings Limited

Starbucks

Tencent

The number of transactions on WeChat during the Lunar New Year in Hong Kong increased by 24% year-on-year, and the transaction volume of mini-programs rose by over 70%

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The short selling amount in the Hong Kong stock market reached HKD 17.26 billion in the first half of the day, accounting for 21.6% of the total shortable stock trading volume of HKD 79.72 billion. The previous day was 29%. Major shorted stocks include: TRACKER FUND with a short selling ratio of 25.8% and a short selling amount of HKD 1.64 billion; CSOP HS TECH with a short selling ratio of 40.8% and a short selling amount of HKD 1.45 billion; MEITUAN-W with a short selling ratio of 37.6% and a short selling amount of HKD 1.35 billion; HSCEI ETF with a short selling ratio of 18.2% and a short selling amount of HKD 820 million; TENCENT with a short selling ratio of 11.4% and a short selling amount of HKD 780 million

MEITUAN

HSCEI ETF

CSOP HS TECH

TRACKER FUND

The short selling in Hong Kong stocks for half a day was HKD 17.26 billion, accounting for 21.6% of the total turnover of shortable shares

HSCEI

BABA

STECH

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Hong Kong stocks surged on February 23, led by tech shares, following a U.S. Supreme Court ruling that reduced tariffs on China. The Hang Seng Index rose 2.3% to 27,019.21, while the Hang Seng China Enterprises Index increased by 2.5%. Analysts predict a significant tariff reduction for China, from 32% to 24%. U.S. President Trump is scheduled to visit China from March 31 to April 2, which is boosting market sentiment. The Hang Seng Tech Index climbed 4%, with notable gains from Alibaba and Tencent. Overall, the market is optimistic about China's economic recovery and upcoming events.

- Hong Kong stocks surged on February 23, with the Hang Seng Index rising 2.3% to 27,019.21, bolstered by positive sentiment following a U.S. Supreme Court ruling on tariffs.  
- The ruling reduced tariffs on China from 32% to 24%, prompting optimism in the market as U.S. President Trump plans a visit to China in late March.  
- Major tech stocks, including Alibaba and Tencent, saw significant gains, while early data indicated strong demand during the Chinese New Year holiday, leading to positive economic outlooks.

Reuters

Hang Seng China Enterprises Index

Alibaba

Hang Seng TECH Index

BABA-W

ISHARESHSI

ISHARESHSTECH

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

FI2 CSOP HSI

FI CSOP HSI

KraneShares 2x Long BABA Daily ETF

BABA 2x Long Daily ETF - GraniteShares

HSTECH ETF

YieldMax BABA Option Income Strategy ETF

Hong Kong shares bounce after US Supreme Court tariff ruling; tech shares lead

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The Hang Seng Index opened 385 points higher this morning, reaching a maximum increase of 743 points to 27,156 points. It reported 27,017 points at noon, up 604 points or 2.29%. Technology stocks performed strongly, with Alibaba, Tencent, and MEITUAN all seeing significant gains. Gold-related stocks also rose broadly due to the increase in gold prices. However, some AI-related stocks, such as IM Motors, experienced a sharp decline. Analysts believe that Hong Kong stocks are influenced by tariff policies and are expected to test 27,300 points in the short term, but the future market trend still needs to pay attention to the situation of the mainland's reopening

- The Hang Seng Index opened 385 points higher, reaching a peak of 27,156 before falling to 27,017, up 2.29% by noon.  
- Notable blue-chip stocks like Alibaba and Tencent drove the rise, with Alibaba gaining over 3% and Meituan nearly 7%.  
- Analysts expect a potential rebound in technology stocks due to eased valuation pressure and increasing AI application, though concerns about the impact of global tariff adjustments remain.

Stheadline

EFUND GOLD MI-R

SPDR GOLD TRT

Hang Seng Index

EFUND GOLD MI-U

EFUND GOLD MI ETF

The Hang Seng Index rose more than 600 points in half a day, surpassing the 27,000 mark. ATM contributed to the rising market, while Zhipu fell more than 20%｜Hong Kong stock market opens

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MCHI

KWEB

JP Morgan released a research report, predicting that the target for the MSCI China Index will be 100 points by the end of the year, and the target for the CSI 300 Index will be 5,200 points. The report points out that China has made progress in AI, robotics, biotechnology, and other fields, and the market's attitude towards the Chinese stock market will shift towards long-term investment. JP Morgan is optimistic about sectors benefiting from AI, including internet platforms, materials stocks, brokerage stocks, insurance stocks, consumer staples, and robotics, with a focus on recommending stocks such as Tencent, Alibaba, and Kweichow Moutai

CSI 300

Global X E-commerce ETF

Tianhong CSI Computer Theme ETF

Global X Robotics & Artificial

Invesco Golden Dragon China

iShares Future AI & Tech ETF

Hwabao CSI HK Equities Internet ETF

iShares China Large Cap

iShares MSCI China

Yinhua MSCI China A ETF

Krne Csi China Internet

E Fund CSI HK Connect Internet ETF

JP Morgan is optimistic about the materials, brokerage, insurance, consumer staples, and robotics sectors, with a year-end target of 100 points for the MSCI China Index

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The Hong Kong stock market opened higher in the morning, with the Hang Seng Index rising 385 points to 26,798 points, and the National Index and Hang Seng TECH Index increasing by 131 points and 92 points, respectively. E-commerce stocks such as Alibaba and JD opened higher, while technology stocks Tencent, Meituan, and NetEase also saw gains. AI model stock KNOWLEDGE ATLAS opened down 13.8% due to issues. Export stocks such as Creative Technology and SHENZHOU INTL opened higher, and pharmaceutical stocks WUXI BIO and WUXI APPTEC also rose. Commodity prices increased, leading to a general rise in related resource stocks

KNOWLEDGE ATLAS

SHENZHOU INTL

WUXI BIO

JD-SW

WUXI APPTEC

FI2CAMNDQ100

FL2 CSOP HSI

China Southern Hang Seng ETF

"Hong Kong Stocks" The Hang Seng Index opened high at 385 points, with technology, export, and resource stocks rising, while AI model stocks retraced

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The box office for the mainland Spring Festival period has surpassed 5 billion RMB, marking the longest Spring Festival period in history for the film market. According to data from MAOYAN Professional Edition, as of the evening of the 22nd, the top three films for the 2026 Spring Festival period are "Fast and Furious Life 3," "Silent Awakening," and "Bounty Hunter: Wind Rises in the Desert." As of the 21st, this year's total box office has exceeded 7 billion RMB, with the mainland film market's cumulative box office surpassing 970 million USD, surpassing North America to become the world's leading single market in box office revenue

Guotai CSI Animation Game ETF

BONA

Penghua CSI Media ETF

Yinhua CSI Movies Theme ETF

MAOYAN ENT

Enlight Media

Guotai CSI Movies Theme ETF

ChinaAMC CSI Animation Game ETF

WANDA FILM

ChinaAMC CSI Cultural Entertainment Media ETF

DAMAI ENT

The box office for the mainland Spring Festival period exceeded 5 billion RMB, and so far this year, it has surpassed 7 billion RMB

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On the first trading day of the Year of the Horse, the Hong Kong stock market closed down 292 points at 26,413 points, with a turnover of HKD 165.373 billion. Technology stocks such as Tencent, Meituan, and Alibaba led the decline, falling 2%, 1.5%, and 4.9% respectively. However, robotics and AI-related stocks rose against the trend, with Zhizhu rising 42.7% and MINIMAX up 14.5%. Overall market performance was affected by the absence of northbound capital, with the Tech Index dropping 122 points to 5,245 points

- The Hong Kong stock market recorded a decline on the first trading day of the Year of the Horse, closing down by 292 points to 26,413.  
- Major technology stocks like Tencent, Meituan, and Alibaba led the losses, while humanoid robot and AI-related stocks surged due to increased interest following their appearance at the Chinese New Year Gala.  
- Analysts predict short-term fluctuations between 26,500 and 27,000 points, with positive sentiment expected to be fueled by developments in the AI sector.

Tianhong Hang Seng TECH ETF(QDII)

ChinaAMC Hang Seng Technology ETF(QDII)

MINIMAX-WP

CAM HS TECH

On the first trading day of the Year of the Horse, the Hang Seng Index fell by 292 points, while AI stocks rose against the trend, with Zhipu soaring over 42% and MINIMAX rising nearly 15% | Hong Kong stock market closing

On the first day of the Hong Kong stock market opening, there was a significant rotation of funds! New AI stars like KNOWLEDGE ATLAS and MiniMax surged, while traditional giants like Alibaba and Tencent saw capital outflows. Domestic AI companies are accelerating the release of model updates, and the holiday and Spring Festival performances have amplified market attention on AI, driving funds to concentrate on pure AI targets on the first day of trading. At the same time, although the big companies' Spring Festival data is impressive, with daily active users of Qianwen and Yuanbao rising, the massive subsidy competition has drawn regulatory attention, increasing market sensitivity to cost rates and the sustainability of profits

- After the Lunar New Year holiday, Hong Kong's stock market saw diverging trends, with AI startups surging while traditional internet giants like Alibaba and Tencent experienced declines.  
- Investors are now favoring pure AI targets, as companies like MiniMax are projected to achieve significant growth, bolstered by favorable ratings from major investment banks.  
- Regulatory pressures on major platforms regarding promotions are adding to the reevaluation of investments, impacting traditional players' profitability amid rising competition from AI firms.

Wallstreetcn

Hong Kong stock technology stocks show differentiation: "AI newcomers" are favored, while "monetization concerns" drag down internet giants

XDAT

Tencent's large model AI product Yuanbao has over 50 million daily active users and 114 million monthly active users. Yuanbao iterated and updated 159 features within 21 days and plans to launch a red envelope drop event on the fifth day of the Lunar New Year. During the Spring Festival, the main venue of Yuanbao conducted over 3.6 billion lottery draws, and users completed AI tasks more than 1 billion times through the "Creation" section

Franklin Exponential Data ETF

Proshares Big Data Refiners ETF

Global X Cloud Computing ETF

iShares Expanded Tech Software Sector ETF

Global X Data Center & Dgtl Infrs ETF

SPDR S&P Software

Emerging Markets Internet ETF

Tencent Yuanbao DAU exceeds 50 million households, MAU surpasses 110 million households

The total box office for the 2026 Spring Festival movie season (including pre-sales) exceeded 1.5 billion yuan. (CCTV)

Hbmc

AXA SPDB CSI Hugangshen Game and Culture Media ETF

Chinese tech companies are launching new AI products during the lunar new year, with ByteDance's Seedance 2.0 and Zhipu AI's GLM5.0 gaining significant attention. JPMorgan recommends buying Zhipu AI and MiniMax, which is also launching a new model. The success of these launches could benefit Tencent and other companies, while Alibaba and Baidu may experience mixed effects. Analysts emphasize the importance of integrating AI models into consumer products for success and suggest that these releases could help close the gap with global competitors like Google and OpenAI.

- Chinese tech companies are launching products during the lunar new year holidays to capture consumer attention, with ByteDance's Seedance 2.0 and Zhipu AI's GLM5.0 leading the focus.  
- Analysts from JPMorgan suggest that these launches could impact stocks like Tencent and MiniMax, while Alibaba's outcome may be mixed due to its Qwen app push.  
- The success of these models hinges on their integration into consumer products, which could narrow the gap with established global AI models and solidify their market position.

Dow Jones

These might be the winners from the latest round of Chinese new year AI launches

The State Administration for Market Regulation interviewed Alibaba, Tencent, and six other platform enterprises, requiring them to strictly comply with relevant laws and regulations, fulfill their main responsibilities, standardize promotional activities, eliminate "involution-style" competition, maintain a fair competitive market environment, and promote the healthy development of the platform economy

The State Administration for Market Regulation summoned Alibaba, Tencent, and seven other platform companies to eliminate "involutionary" competition

Unity

Conference Minutes

Below is Dolphin Research's Trans of the Q4 2025 earnings call for $Unity Software(U.US). For our earnings review, see '30% Overnight Plunge: Who Crushed Unity?'. I. Key financials recap. Q4 2025 results. Revenue $503mn (+2% YoY); Adj. EPS $0.24 (vs. Street $0.21). Adj. EBITDA $125mn (margin 25%); FCF $119mn...

Unity Software

Opendoor Tech

Opendoor Tech Series A - CW26

Opendoor Tech Series K - CW26

Opendoor Tech Series Z - CW26

TENCENT-R

Tencent HK SDR 10to1

Unity (Trans): Vector up 70% YoY in Jan.

30-40% upside potential. Mainly driven by AI, gaming, advertising growth. A great giant ETF company🤣. Too expensive to buy and hold for retail investor.

2026 Resolution-Trade like professional . Do not FOMO. Keep more cash.

Fattycat

BABA Diamond Holder

BABA Return Rate

我想问真观点

What is Tencent's upside potential?

KC1028

This Lunar New Year, China’s tech giants kicked off a new round of AI wars.Alibaba launched a ¥3B “Spring Festival Treat” campaign, driving 10 million free milk tea orders in 9 hours across its platforms. Tencent invested ¥1B into WeChat’s “Yuanbao” AI red packets to deepen engagement.ByteDance took another path — its Dream platform released Seedance 2.0, a video AI model that boosts usable output for short clips to over 90%, far above the ~20% industry average.Beyond subsidies, this battle is about who can truly integrate AI into daily life. The holiday rush helps shape habits, gather data, and train models — all aiming to become the go-to “AI ask” gateway.The winner won’t just get traffic, but could define the super-app of the AI era.So — who’s your pick? Alibaba’s commerce, Tencent’s social grip, or ByteDance’s tech edge?$Alibaba(BABA.US)$BABA-W(09988.HK)$BABA-WR(89988.HK)$Tencent(TCEHY.US)$TENCENT(00700.HK)

Yuanbao

The Battle for the AI Gateway: Who Wins?This Lunar New Year, China's tech giants unleashed a new wave of AI application wars. Alibaba's &#34;Spring Festival Treat&#34; campaign, backed by ¥3B, offered deals across e-commerce and local services, logging 10 million free milk tea orders in 9 hours. Tencent doubled down on its WeChat ecosystem, investing ¥1B into its &#34;Yuanbao&#34; AI red packet feature to boost engagement.ByteDance played a different card. Its Dream platform launched Seedance 2.0, a new video AI model. A key breakthrough: it boosted the usable output rate for 15-second clips to over 90%, far above the ~20% industry average, slashing generation costs.Beyond subsidies, this battle tests real AI integration and ecosystem strength. The holiday season is a prime testing ground to shape user habits, collect data, and train models—all fighting to become users' first-choice &#34;AI ask&#34; portal.The stakes? It's not just about traffic. It's about defining the super-app gateway for the AI era, which will ripple across the entire investment landscape.So, who's your pick for the ultimate AI gateway? Alibaba with its commerce power, Tencent with its social lock-in, or ByteDance with its tech edge?

Today’s Key News Recap

Feb 6 | Dolphin Research focus: 🐬 Stock 1, $BABA-W(09988.HK) Alibaba's Qwen app launched a 'Spring Festival RMB 3bn free-order' campaign today. The first wave centers on AI one-line prompts to order milk tea for free.Notably, WeChat further blocked today the promo passwords for red-envelope campaigns run by both Alibaba Qwen and Tencent Yuanbao. As a result, those keywords can no longer be copied or recognized in private or group chats.The move aims to protect WeChat's platform ecosystem and curb over-marketing that disrupts user experience. It also helps defend its social-traffic moat...

BABA-WR

Amazon

Roblox

LI AUTO-W

Alibaba Qwen's Lunar New Year free-order promo was blocked by WeChat; Nio surged after its first-ever quarterly profit | Daily News Recap

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UB#TENCTRC2607E(63305.HK)

The number of transactions on WeChat during the Lunar New Year in Hong Kong increased by 24% year-on-year, and the transaction volume of mini-programs rose by over 70%

The short selling in Hong Kong stocks for half a day was HKD 17.26 billion, accounting for 21.6% of the total turnover of shortable shares

Hong Kong shares bounce after US Supreme Court tariff ruling; tech shares lead

The Hang Seng Index rose more than 600 points in half a day, surpassing the 27,000 mark. ATM contributed to the rising market, while Zhipu fell more than 20%｜Hong Kong stock market opens

JP Morgan is optimistic about the materials, brokerage, insurance, consumer staples, and robotics sectors, with a year-end target of 100 points for the MSCI China Index