BITENCT@EC2606C

A large block sale of Tencent Holdings shares occurred

On the first trading day of the Year of the Horse in Hong Kong, funds flow from traditional tech stocks like Tencent to pure-play AI concept stocks

Chinese AI and robotics firms appoint millennial and Gen Z rising stars as chief scientists

The TV series "Love Me, Love My Voice" reached the top of Tencent Video's "N-binge" list, showing a significant long-tail effect.

Hong Kong Stock Connect data shows Tencent Holdings with the highest net inflow

Southbound Stock Connect data shows Tencent Holdings had the highest net inflow on February 11.

Zhitong ADR statistics show Tencent Holdings ADR rose slightly by 0.18% compared to Hong Kong's closing price

Tencent Holdings recorded a net southbound fund inflow of HK$736 million on February 19.

Tencent and Nexon jointly announce China version of 'ARC Raiders'

Erste Group Downgrades Tencent Holdings (ADR) to Hold

Tencent Announces its AI Assistant "Yuanbao" Surpasses 50 Million Daily Active Users

Analysis points to Tencent's rising role in AI and the questions it raises for global investors.

Tencent's travel service integrates Uber, enabling overseas ride-hailing via WeChat

Tencent Integrates Uber for Overseas Rides with Full WeChat Payment

Zhitong Finance statistics show an unusual change in the proportion of Tencent Holdings in the Hong Kong Stock Connect

Report reveals Tencent secretly funded game developer Wildlight Entertainment

Guojin Securities Predicts the Computing Power Industry Chain Will Enter a 'Full-Chain Inflation' Cycle in 2026

China's Market Regulator Meets with Tencent and Other Platforms, Demanding an End to 'Involution-Style' Competition

Tencent Announces Data from 1 Billion Red Envelopes Campaign

Tencent releases report on its 'Yuanbao' 1 billion red envelope campaign, with 1 billion AI creations completed

STARCOIN GROUP

GUANZE MEDICAL

IDT INT'L

BOER POWER

SUPER STRONG

SUNWAH KINGSWAY

WINTO GROUP

GW TIANDI

WISDOMCOME GP

AE LOGISTICS

XDAT

KWEB

TCEHY

TCTZF

00700

MCHI

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

AASTOCKS

Franklin Exponential Data ETF

iShares China Large Cap

Proshares Big Data Refiners ETF

Krne Csi China Internet

Tencent

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 Holdings Limited

TENCENT

iShares MSCI China

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

516190

516620

01896

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

Wallstreetcn

ChinaAMC CSI Cultural Entertainment Media ETF

Guotai CSI Movies Theme ETF

MAOYAN ENT

WANDA FILM

DAMAI ENT

Hbmc

AXA SPDB CSI Hugangshen Game and Culture Media ETF

Penghua CSI Media ETF

ChinaAMC CSI Animation Game ETF

Yinhua CSI Movies Theme ETF

Guotai CSI Animation Game ETF

00100

02513

KBAB

BABX

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

MINIMAX-WP

KNOWLEDGE ATLAS

KraneShares 2x Long BABA Daily ETF

BABA 2x Long Daily ETF - GraniteShares

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

BABA

09988

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

Alibaba

BABA-W

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

03690

BIDU

06618

00241

On February 13th, the State Administration for Market Regulation interviewed platform companies such as Alibaba, Douyin, Baidu, Tencent, JD.com, Meituan, and Taobao Flash Sale, requiring them to comply with relevant laws and regulations, fulfill their main responsibilities, standardize promotional activities, and eliminate "involutionary" competition to maintain a fair competitive market environment and promote the innovation and healthy development of the platform economy

- On February 13, the State Administration for Market Regulation discussed compliance with various laws aimed at promoting fair competition with major platforms including Alibaba, Douyin, Baidu, Tencent, JD.com, Meituan, and Taobao Shanguo.  
- The platform enterprises were urged to eliminate "involution" competition and to enhance responsible promotional practices to foster a healthy platform economy.  
- The article also includes a disclaimer about investment risks and advises users to consider their individual circumstances before making investment decisions.

MEITUAN

Baidu

JD HEALTH

JD LOGISTICS

JD.com

Meituan

ALI HEALTH

JD-SW

Yinhua MSCI China A ETF

Global X E-commerce ETF

The State Administration for Market Regulation interviewed platform companies such as Alibaba, Douyin, Baidu, Tencent, JD.com, Meituan, and Taobao Flash Sale

09888

On February 13th, the State Administration for Market Regulation interviewed seven platform companies, including Alibaba, Douyin, Baidu, Tencent, JD.com, Meituan, and Taobao Flash Sale, requiring them to strictly comply with relevant laws and regulations, fulfill their main responsibilities, standardize promotional activities, and eliminate "involution" competition to maintain a fair competitive market environment and promote the innovation and healthy development of the platform economy

KraneShares 2x Long JD Daily ETF

BIDU-SW

The State Administration for Market Regulation interviewed 7 platform companies

YINN

BABO

The Trump administration is set to add Alibaba and other companies to a list of firms allegedly supporting China's military. This action, expected on Friday, is part of the Pentagon's 1260H list, which, while not imposing formal sanctions, communicates the U.S. military's stance on these firms to suppliers and government agencies. Some companies have contested their inclusion in the list.

- The Trump administration plans to add companies, including Alibaba, to a list of firms allegedly supporting China’s military.  
- This action is expected to occur by Friday, according to sources familiar with the matter.  
- While the Pentagon's 1260H list does not enforce sanctions, it signals to U.S. suppliers the military's stance on these firms, some of which have litigated against their listing.

Reuters

Direxion FTSE China Bull 3X

YieldMax BABA Option Income Strategy ETF

US expected to add Alibaba and other to list of firms allegedly aiding China's military, sources say

Bernstein believes that Tencent's stock price decline is mainly due to the dual impact of lagging AI model development progress and concerns about AI disruption in the gaming industry. Currently, Tencent is trading at 14-15 times the expected price-to-earnings ratio for 2027, close to the low levels faced by the industry during the gaming approval stagnation and pandemic lockdowns of 2022-2023. Although Tencent does need to catch up in chatbot development, the company continues to generate robust AI investment returns through its advertising and gaming businesses, and the current valuation reflects overly pessimistic expectations

- A debate is emerging over the "winners of AI," as companies like Tencent face challenges due to shifting investor focus towards AI model development and chatbots, leading to a 10% drop in its stock this year.  
- Bernstein's research indicates that Tencent’s declining stock is due to lagging AI model development and disruption in the gaming industry, though its underlying business remains strong.  
- In contrast, Alibaba’s strategic advancements in AI, including the launch of Qwen services, have made it more appealing to investors, amidst concerns about the financial implications of substantial capital expenditures.

Is Tencent being wrongfully killed?

01024

On February 13th, the Hong Kong stock market collectively adjusted, with the Hang Seng Index falling 1.72%, breaking below short-term highs. The internet and retail sectors experienced widespread declines, influenced by the macro environment and intensified competition, with heavyweight stocks like Meituan and Alibaba weakening. The restaurant sector showed mixed performance, with Haidilao rising against the trend due to recovery expectations. In terms of individual stocks, Yingda Real Estate surged over 39% on expectations of profits from asset sales. The market has entered a short-term consolidation period, with funds focusing on liquidity changes and policy directions

- On February 13, Hong Kong stocks declined collectively after reaching a short-term high, with the Hang Seng Index falling 1.72% to 26,567.12 points. 
- The retail sector suffered due to intense price competition and weak consumer sentiment, impacting major players like Alibaba and JD.com. 
- Amid mixed macroeconomic signals, investors are advised to consider defensive opportunities in high-dividend and policy-benefited sectors.

Market Heartbeat

KUAISHOU-W

MNSO

HAIDILAO

YUM CHINA

PCPD

MANY IDEA CLOUD

AFFLUENT FDN

Hong Kong Stock Market Closing | Hang Seng Index fell 1.72%, Meituan dropped 3.18% leading the blue chips, Yingda Real Estate surged 39% on positive news

On February 13th, the Hong Kong stock market showed weak sentiment, with all three major indices declining collectively. The Hang Seng Index fell 1.86% during the session and failed to hold its high position, while the Hang Seng TECH Index dropped 1.31%. Under the dual pressure of cooling expectations for a Federal Reserve interest rate cut and intensified industry competition, technology and consumer heavyweight stocks experienced widespread declines. Meituan fell over 3% due to market concerns about a new round of price wars, with Baidu, Alibaba, and others following suit in their corrections. Market risk aversion increased, with funds waiting for the core data at the end of the month to validate the recovery's strength. In terms of individual stocks, the new stock HAIZHI TECH GP surged over 224%, becoming the biggest highlight of the session

- As of February 13, 2026, Hong Kong's stock indices faced downward pressure, with the Hang Seng Index dropping 1.86% to 26,529.94 points amid weakening buying momentum.  
- The technology and retail sectors experienced declines due to concerns over competition and market dynamics, with companies like Tencent and Alibaba seeing significant decreases in share prices.  
- Investors remain cautious, awaiting crucial data later in the month to gauge economic recovery signals and their impact on major sectors.

HAIZHI TECH GP

INNOVENT BIO

ZIJIN MINING

Hang Seng TECH Index

Hang Seng Index

Hong Kong stock market intraday | The Hang Seng Index fell 1.86% under pressure, technology stocks broadly declined, Meituan dropped 3.48%, and the new stock HAIZHI TECH GP surged 224%

01810

On February 13th, the three major indices of Hong Kong stocks collectively weakened in the morning session, with the Hang Seng Index falling by 1.79% and the Hang Seng TECH Index dropping by 1.65%. Affected by regulatory interviews and profit-taking pressure, technology stocks fell across the board, with MEITUAN down 4.54%, Baidu down 3.78%, and JD.com down 3.04%. Although Tencent continued to attract attention from southbound funds, its stock price still adjusted down by 1.68%. Individual stocks showed divergence, with AI concept stock Zhipu surging over 28% against the trend, and catering leader Haidilao rising by 2.22%. Market risk aversion sentiment is rising, entering a phase of digestion and consolidation in the short term

- On February 13, Hong Kong's three major indices fell after a recent high, indicating profit-taking pressure amid heightened risk aversion.  
- The Hang Seng Index closed at 26,548.41 points, dropping 1.79%, with the technology and retail sectors, including Tencent and Alibaba, showing significant declines due to regulatory concerns.  
- Market focus is shifting to external liquidity and mainland economic recovery, as the upcoming macro data release is anticipated to influence market direction.

XIAOMI-W

Dacheng Hang Seng Technology ETF(QDII)

CAM HS TECH

CSOP HS TECH

HSTECH ETF

FL2 CSOP HSI

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

Tianhong Hang Seng TECH ETF(QDII)

FI2 CSOP HSI

ChinaAMC Hang Seng Technology ETF(QDII)

Hong Kong Stock Midday Review | The Hang Seng Index fell 1.79%, tech stocks collectively declined, while AI concept stock Zhipu surged over 28% against the trend

The three major indices of the Hong Kong stock market were all under pressure today, with the Hang Seng Index falling 1.52%, the Hang Seng Tech Index dropping 1.24%, as the market faced profit-taking after reaching a peak. The technology, internet, and retail sectors generally weakened, with heavyweight stocks Tencent Holdings down 1.77%, Alibaba down 2.21%, and Meituan down 3.30%. The restaurant sector showed mixed performance, with Haidilao rising 1.56% against the trend. In terms of individual stocks, Aisinyuan Intelligence surged 13.68% on its first day of listing, while Starry Chain Group experienced significant volatility due to name change expectations. Investors are closely monitoring upcoming CPI and GDP data to assess the economic recovery process

- The Hong Kong stock market showed declines today, with major indexes experiencing profit-taking after yesterday's highs.  
- The Hang Seng Index fell by 1.52% to 26,622.96 points, while tech and retail sectors suffered due to cautious consumer recovery expectations.  
- Market participants are focused on forthcoming economic data, including CPI and GDP, to assess recovery resilience, as trading activity indicates strategic movements towards certain sectors.

AXERA

LONGCHEER

Hong Kong stock market intraday | The Hang Seng Index fell 1.52%, technology weighted stocks broadly declined, Meituan fell 3.30%, and Aisino surged 13.68%

03896

002371

Daiwa released a report listing its preferred stocks in the Hong Kong and A-share markets, including Tencent, LAOPU GOLD, WEICHAI POWER, CHINA RES LAND, Alibaba-W, KINGSOFT CLOUD, Midea Group A, NAURA, CATL A, Moutai, and Montage Technology

KINGSOFT CLOUD

NAURA

CATL

Moutai

LAOPU GOLD

WEICHAI POWER

Midea Group

CHINA RES LAND

Montage Technology

Dai Hang Daiwa lists preferred AH stock selection (table)

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

Li Auto

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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BITENCT@EC2606C(22283.HK)

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)

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

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

The State Administration for Market Regulation interviewed platform companies such as Alibaba, Douyin, Baidu, Tencent, JD.com, Meituan, and Taobao Flash Sale