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41 stories mentioning HKG:0700Updated 8d ago

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Asia

Fitch Assigns A Ratings to Tencent Holdings' Proposed US Dollar, Yuan Notes

Fitch on Monday gave A ratings to Tencent Holdings' (HKG:0700) proposed US dollar and yuan senior unsecured notes.The Chinese technology and entertainment conglomerate will issue the notes under its $30 billion medium-term note program.The proposed notes' rating is equivalent to the company's A senior unsecured rating, ranking equally at all times with current and future senior unsecured debt. Other key rating drivers include AI-driven advertising growth and the company's strong business profile and games portfolio.

HKG:0700
Asia

Market Chatter: Tencent Draws Over $6 Billion in Orders for Dual-Currency Bond Sale

Tencent Holdings (HKG:0700) attracted more than $6 billion in investor orders for its planned dual-currency bond offering, Reuters reported Tuesday, citing order book updates reviewed by the news agency.Orders for the Chinese tech giant's offshore yuan bonds exceeded 20.5 billion yuan, while demand for its U.S. dollar bonds surpassed $3 billion, the report said.Tencent is seeking to raise $4 billion through the offering, Reuters previously reported.Proceeds will be used for general corporate purposes, including refinancing.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0700
Pentagon Accuses Alibaba, Tencent, BYD, CATL of China Military Links
US Markets

Pentagon Accuses Alibaba, Tencent, BYD, CATL of China Military Links

The U.S. added dozens of Chinese companies to a list of firms it says support Beijing's military, a move that could heighten tensions between the world's two largest economies.The Pentagon added several major Chinese technology, electric-vehicle, and battery companies, including Alibaba (HKG:9988), Tencent (HKG:0700), BYD (HKG:1211, SHE:002594), CATL (HKG:3750, SHE:300750), Baidu (HKG:9888), and Nio (HKG:9866), to its list of "Chinese military companies," according to a notice published Monday.The U.S. Department of Defense said the companies were designated under Section 1260H of the National Defense Authorization Act, which requires the Pentagon to identify entities it deems linked to China's military or that support military-civil fusion efforts.The Pentagon briefly published the updated list in February, when President Donald Trump's planned visit to China was still under consideration, before withdrawing it without explanation.It later asked the Federal Register to remove the notice from public inspection and withdraw it from publication, stating: "We would like to remove this notice from public inspection and withdraw the notice from publication," without providing a reason.The list was released less than a month after Trump met Chinese President Xi Jinping in Beijing, where the two leaders discussed trade and technology issues.The updated list also includes Huawei Technologies, DJI, Semiconductor Manufacturing International (HKG:0981, SHA:688981), China Mobile (HKG:0941, SHA:600941), China Telecom (HKG:0728), China Unicom (HKG:0762), Hikvision (SHE:002415), SenseTime (HKG:0020), Unitree Robotics, TP-Link, among others.Also included was WuXi AppTec (HKG:2359, SHA:603259), one of China's largest pharmaceutical research and manufacturing services providers.WuXi AppTec said separately in a statement on Tuesday that its inclusion on the list was "clearly a mistake" and that it would take immediate steps to challenge the designation.The company said it does not meet the statutory criteria for a "Chinese military company" and is not owned, controlled by, or affiliated with any Chinese military or government entity.China's embassy in Washington criticized the designation, saying Beijing opposed "making discriminatory lists to go after Chinese companies.""The U.S. should stop its wrong practice and create a fair, just, and non-discriminatory environment for Chinese companies," an embassy spokesperson said in a statement to Reuters.The spokesperson added that Chinese companies operate in accordance with local laws and regulations.The new list is largely unchanged from the withdrawn February version, except for the addition of memory chipmakers CXMT and YMTC, whose earlier removal had sparked criticism from U.S. lawmakers.Bloomberg News reported earlier that the Pentagon's decision to initially remove YMTC and CXMT prompted the list's swift withdrawal in February.The notice also removed several entities from the previous list, including CNOOC China and CNOOC International Trading, both of which are owned by state-controlled oil producer CNOOC.However, the Pentagon added CNOOC subsidiary China BlueChemical (HKG:3983) to the updated list and said in the filing that CNOOC is directly owned and controlled by China.The notice also removed several entities from the previous list, including Anhui Sun Create Electronics, China International Information Services, China National Chemical Engineering, China Traffic Construction USA, COSCO Shipping Finance, among others.Companies designated under the program may seek reconsideration by submitting information to challenge their inclusion on the list, according to the notice.While the designation carries limited immediate legal consequences, the Pentagon has increasingly used the list to restrict companies' access to U.S. military contracts and research funding.The designation is also viewed by investors as a warning signal that can precede broader U.S. trade, investment, or regulatory restrictions.

HKG:0700HKG:0728HKG:0762HKG:0883HKG:0941HKG:1211HKG:2359HKG:3750HKG:9866HKG:9888HKG:9988SHA:600938SHA:600941SHA:603259SHE:002594SHE:300750
Asia

Pentagon Accuses Alibaba, Tencent, BYD of Ties to Chinese Military

The Pentagon added several major Chinese companies, including Alibaba (HKG:9988), Tencent (HKG:0700), BYD (HKG:1211, SHE:002594), CATL (SHE:300750, HKG:3750), Baidu (HKG:9888), and Nio (HKG:9866), to its list of "Chinese military companies," according to a notice published on MondayThe U.S. Department of Defense said the companies were designated under Section 1260H, which requires the agency to identify entities it deems linked to China's military or supporting military-civil fusion efforts.The updated list also includes Huawei Technologies, DJI, Semiconductor Manufacturing International (HKG:0981, SHA:688981), China Mobile (HKG:0941, SHA:600941), China Telecom (HKG:0728), and China Unicom (HKG:0762), among others.Also included on the list was WuXi AppTec (HKG:2359, SHA:603259), one of China's largest pharmaceutical research and manufacturing services providers.The companies were included in a previous version of the list that was briefly posted in February before being withdrawn minutes later without explanation, Bloomberg News reported separately.WuXi AppTec said separately in a statement that its inclusion on the list was "clearly a mistake" and that it would take immediate steps to challenge the designation.The company said it does not meet the statutory criteria for a "Chinese military company" and is not owned, controlled by, or affiliated with any Chinese military or government entity.While the designation carries limited immediate legal consequences, the Pentagon has increasingly used the list to restrict companies' access to U.S. military contracts and research funding, Bloomberg said.A 1260H designation is also reportedly viewed as a warning to U.S. investors and can precede tougher trade or regulatory restrictions.

HKG:0700HKG:0728HKG:0762HKG:0941HKG:0981HKG:1211HKG:2359HKG:9866HKG:9888HKG:9988SHA:600941SHA:603259SHA:688981SHE:002594SHE:300750
Asia

Market Chatter: Tencent Said Targeting $3 Billion from Dual-Currency Bond Sale

Tencent Holdings (HKG:0700) is planning a $3 billion fundraising through a dual-currency bond sale, Bloomberg News reported Monday, citing people familiar with the matter.The tech giant has appointed investment banks for the offering of US dollar bonds maturing in 10 and 20 years and offshore yuan-denominated bonds due in 10 and 30 years, the report added.The bond offering, earmarked for refinancing and general corporate purposes, could reportedly be priced as early as Tuesday but final details are yet to be decided.Tencent did not immediately respond to' request for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0700
Asia

Meituan Faces Roadblocks to Profitability Amid Possible Subsidy War Revival, S&P Says

Meituan (HKG:3690) faces a volatile road back to profitability as potential promotional spending spikes from rivals could reignite sector subsidy wars, S&P Global Ratings said in a recent release.The Chinese delivery giant's first-quarter operating margins rebounded to -7% from -21% during the peak of price competition in the third quarter of 2025, the rating agency said.S&P forecasts the company's EBITDA margins will recover to about 3% in 2026, dependent on a positive EBITDA in the second half of the year through highly targeted subsidies.S&P has a negative outlook on the company, saying that aggressive rival promotions could delay positive free cash flow generation beyond 2026.The company is shifting its focus toward higher net gross transaction value over absolute volume while boosting operational efficiency by deploying Tencent Holdings' (HKG:0700) Yuanbao agentic AI.

HKG:0700HKG:3690
Asia

Market Chatter: Tencent, CATL Among Investors in DeepSeek's Debut Funding Round

Sources said DeepSeek counts Tencent (HKG:0700) and Contemporary Amperex Technology (SHE:300750, HKG:3750), or CATL, as investors in its debut external funding round, Reuters reported Wednesday.The Chinese artificial intelligence startup is set to raise 50 billion yuan, which could value DeepSeek between 350 billion and 400 billion yuan, according to the report.The fundraising breaks from founder Liang Wenfeng's previous strategy of relying solely on his quant hedge ​fund High-Flyer to back operations, Reuters wrote.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSEHKG:0700HKG:3750SHE:300750
Asia

Market Chatter: DeepSeek to Raise 50 Billion Yuan in Pilot Funding Round

DeepSeek seeks to raise about 50 billion yuan in its first funding round, potentially valuing the Chinese artificial intelligence startup between 350 billion yuan and 400 billion yuan, Reuters reported Wednesday, citing sources.Tencent (HKG:0700) and Contemporary Amperex Technology (SHE:300750, HKG:3750) are expected to become the biggest investors in the fundraising as they are considering injecting 10 billion yuan and 5 billion yuan, respectively, the report said.The AI firm is in discussions with China's national artificial intelligence fund, as well as NetEase (HKG:9999) and JD.com (HKG:9618), to participate in the fundraising, according to Reuters.DeepSeek's founder, Liang Wenfeng, pledged to inject 20 billion yuan into the startup, sources reportedly told the media outlet.DeepSeek, Tencent and CATL are yet to respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSEHKG:0700HKG:3750HKG:9618HKG:9999SHE:300750
Asia

Market Chatter: Tencent Nears Launch for WeChat AI Agent with Prototype Testing

Tencent (HKG:0700) has begun testing a prototype for its artificial intelligence agent for its WeChat app, paving the way for a launch, the Financial Times reported Tuesday, citing two people with knowledge of the matter.Following testing, which will allow users to complete tasks within the app, public launch could commence as soon as June, the report said.The company could not set a specific date due to uncertainties with compliance protocols, according to the newspaper.Tencent will then test the agent on a group of outside users prior to a phased rollout, the FT said.WeChat users will be able to access the AI agent by swiping right on the app screen, the newspaper said, citing a person who has seen an earlier demonstration.Shares rose 6% in Hong Kong during morning trading on Tuesday.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0700
Chipmaker CXMT Wins Approval for China's Largest IPO Since 2022
US Markets

Chipmaker CXMT Wins Approval for China's Largest IPO Since 2022

ChangXin Memory Technologies has received approval from the Shanghai Stock Exchange to proceed with an initial public offering, targeting 29.5 billion yuan in proceeds, which would make it the largest IPO in China in four years.The Shanghai bourse's Listing Review Committee on Wednesday noted that CXMT "meets the issuance conditions, listing conditions, and information disclosure requirements" for an IPO.The chipmaker plans to list 10.6 billion shares on the STAR Market board, accounting for at least 10% of its share capital post-issuance.CXMT has agreed to grant underwriters an overallotment option to issue up to an additional 15% of the shares in the offering.China International Capital Corporation and CITIC Securities are serving as lead underwriters.Based on its IPO target size, the deal would mark the largest in China since CNOOC's (SHA:600938, HKG:0883) 32.3 billion yuan Shanghai IPO in 2022. It would also be the biggest in Asia since Contemporary Amperex Technology or CATL's (SHE:300750, HKG:3750) HK$41 billion Hong Kong IPO last year.CXMT describes itself as the world's fourth-largest supplier of dynamic random access memory (DRAM). The company competes with South Korea's Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660), and US-based Micron Technology. They collectively control 90% of the DRAM market, according to The Wall Street Journal.DRAM is a chip that serves as a key component for processors, including those used for artificial intelligence models.The company supplies its products to domestic clients like Alibaba Holdings (HKG:9988), ByteDance, Tencent Holdings (HKG:0700) and Xiaomi (HKG:1810).Of the total proceeds, CXMT plans to use 13 billion yuan to upgrade its DRAM technology, 9 billion yuan for DRAM research and development, and 7.5 billion yuan to upgrade its production line."After years of development, the company has broken through key core technologies in DRAM and successfully achieved independent R&D, design, and commercial mass production of its products, filling a long-standing gap in the global market for DRAM products from mainland China," according to a translated text of CXMT's IPO prospectus.The IPO comes as CXMT continues to bank on the strong global demand for chips amid the AI boom. For the first quarter ended March 31, CXMT swung to an attributable net profit of 24.8 billion yuan from an attributable net loss of 1.56 billion yuan a year earlier. Revenue surged 719% to 50.8 billion yuan from 6.2 billion yuan.The company expects to book up to 57 billion yuan in attributable profit for the first half of 2026, versus an attributable net loss of 2.33 billion yuan a year prior. Revenue is forecast to jump by up to 677% from a year earlier to up to 120 billion yuan.Ao Fei, managing director at Beijing Xinhan Capital, told Bloomberg that CXMT's "position in the industry and its strategic importance to the nation speaks for itself.""CXMT is the reason China has been able to get a foothold in DRAM, arguably the most critical memory segment powering the AI revolution.""This is a national champion that has catalyzed China's entire semiconductor supply chain, serves as a training ground for the next generation of talent, and has elevated the industry to a new frontier," Ao reportedly said."You could argue that ChangXin today occupies the same pivotal position that CATL held at the time of its listing."Meanwhile, Dong Shaopeng, a senior research fellow at the Chongyang Institute for Financial Studies, Renmin University of China, told China's Global Times that the Shanghai bourse's approval of CXMT's listing follows the outcome of policy guidance, industrial efforts and coordinated support from the financial system."Against this backdrop, continued breakthroughs in China's semiconductor industry could bring structural adjustments to the global chip market landscape," Dong was quoted by the Global Times as saying.CXMT's Shanghai IPO also comes amid an influx of new listings in mainland China and Hong Kong. Total funds raised from A-share IPOs in the first quarter of 2026 rose 8% year over year to 27.4 billion yuan, according to data from KPMG.

Shanghai CompositeHKG:0700HKG:0883HKG:1810HKG:3750HKG:9988KRX:000660KRX:005930SHA:600938SHE:300750
Asia

Market Chatter: ByteDance to Offer Stock Options at AI Division to Retain Talent

ByteDance will offer low-priced stock options linked to its Seed AI division in a bid to retain talent, the Financial Times reported Tuesday, citing four people with knowledge of the matter.The stock options will expose staff to the AI division without diluting the TikTok owner's other business segments, the FT said.The move comes as tech rivals including Tencent (HKG:0700) have begun poaching ByteDance's researchers, according to the report.Seed has one of the largest concentrations of top AI talent in China, according to the newspaper.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSEHKG:0700
Asia

Market Chatter: InSilico Medicine Considering Secondary Listing in Abu Dhabi

InSilico Medicine (HKG:3696) is considering listing in Abu Dhabi less than a year after going public in Hong Kong, Bloomberg News reported Tuesday.The Boston-based biotechnology firm has held preliminary discussions to list shares on the Abu Dhabi Securities Exchange as early as this year, the report said, citing people familiar with the matter.InSilico Medicine was listed in Hong Kong in December 2025, raising HK$2.28 billion from its IPO. The Tencent Holdings-backed (HKG:0700) drug discovery company had a stellar trading debut with shares closing 25% higher than their IPO price of HK$24.05 in their first day of trading.Insilico has yet to respond to' request for comment at press time.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0700HKG:3696
Asia

Market Chatter: US Approves Sale of Nvidia's H200 Chips to China, But Zero Deliveries Made

Despite U.S. clearance for 10 Chinese companies, including Alibaba Group (HKG:9988), Tencent Holdings (HKG:0700) and ByteDance to buy Nvidia H200 chips, zero deliveries have been made to date, Reuters reported Thursday. citing three people familiar with the matter.While the U.S. Commerce Department approved sales of up to 75,000 units per company, Beijing has reportedly told local companies to stall purchases.Other companies that secured licenses to buy Nvidia chips include JD.com (HKG:9618), Lenovo (HKG:0992) and Hon Hai Precision Industry (TPE:2317) or Foxconn, the report said.Nvidia CEO Jensen Huang expects U.S. President Donald Trump and Chinese President Xi Jinping to build on their good relationship during the US-China summit to improve ties, Huang told Chinese state broadcaster CCTV on Thursday.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0700HKG:0992HKG:9618HKG:9988TPE:2317
Tencent Posts Higher Q1 Profit Amid Growth in AI, Games Popularity
US Markets

Tencent Posts Higher Q1 Profit Amid Growth in AI, Games Popularity

Tencent Holdings' (HKG:0700) first-quarter profit grew amid the growing popularity of its games and the ongoing expansion of the artificial intelligence space.The profit attributable to equity holders rose 21% to 58.1 billion yuan from 47.8 billion yuan a year earlier, with earnings per share growing year on year to 6.30 yuan from 5.13 yuan, according to the company's earnings report published Wednesday.The current EPS missed Visible Alpha estimates of 7.31 yuan.Revenue increased 9% to 196.5 billion yuan from 180 billion yuan in the previous year. However, it did not meet the 199.5 billion yuan predicted by VA analysts.Tencent attributed its revenue growth to the increase in its domestic games revenue, which climbed 6% year on year to 45.4 billion yuan. The drivers of domestic game revenue are the company's existing games, such as Honour of Kings and Peacekeeper Elite, and more recent releases, such as Delta Force.Meanwhile, international games rose 13% year on year to 18.8 billion yuan due to the popularity of Clash Royale, Wuthering Waves, and VALORANT PC.The gaming giant's revenue boost amid the popularity of artificial intelligence."We started 2026 by making significant initial progress on our new AI products, as well as continuing to utilize AI to grow our existing core businesses," Tencent Chairman Ma Huateng said.The company developed AI models, the Hy3 preview large language model and WorkBuddy. Huateng said the WorkBuddy is China's most widely used productivity AI agent service.Tencent also said its commercial payment volume rose at a faster yearly rate in Q1, compared with the preceding quarter, due to the growing number of transactions and higher value per transaction in services, such as retail and dining.No interim dividend was declared for the period.Tencent's share closed 1% higher.

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Asia

Zephirin Adjusts Tencent Holdings' Price Target to HK$420 from HK$480, Keeps at Strong Sell

Tencent Holdings (HKG:0700) has an average rating of buy and mean price target of HK$734.50, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

HKG:0700
Asia

Market Chatter: Alibaba Group, Tencent Earnings to Slow Over Mounting AI Costs

Alibaba Group (HKG:9988) and Tencent Holdings (HKG:0700) could post slower earnings growth in their upcoming results next week as artificial intelligence costs rise and domestic competition intensifies, Bloomberg said in an earnings preview Friday.Tencent's full-year earnings growth is expected to slow to the low-teen percentage range as AI investments double, while Alibaba faces pressure from China's soft consumption outlook, Bloomberg reported, citing Bloomberg Intelligence.Bloomberg Intelligence also said stronger cloud-computing demand is unlikely to provide a meaningful earnings boost for either company in 2026 because of intense competition and margin pressure in the segment.Both firms are due to announce their result on Wednesday next week.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0700HKG:9988
Asia

Market Chatter: DeepSeek Valuation Could Reach Up to $50 Billion in Maiden Funding Round

Chinese artificial intelligence platform DeepSeek could be valued at up to $50 billion in its first fundraising drive, which could be led by the country's national artificial intelligence fund, Reuters reported Thursday, citing sources.The China Integrated ​Circuit Industry Investment Fund is in discussions with the large language model builder to be the funding round's lead investor, according to the report.Tencent Holdings (HKG:0700) is also in discussions to invest in the AI startup, the sources told the media outlet.DeepSeek seeks to raise between $3 billion and $4 billion in the fundraising, the report said.The China Integrated ​Circuit Industry Investment Fund and Tencent declined to comment, according to Reuters. DeepSeek has yet to reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSEHKG:0700
Asia

Market Chatter: DeepSeek V4 Sparks Rush for Huawei's Ascend 950 AI Chips

ByteDance, Tencent (HKG:0700), Alibaba (HKG:9988) and other big Chinese firms are rushing to place orders for Huawei's Ascend 950 AI chips, Reuters reported Wednesday, citing people familiar with the matter.The surge in demand followed the release of DeepSeek's V4 artificial intelligence model that runs on said Huawei chips, according to the report.Sources said companies specializing in cloud computing and graphics processing unit rental services are also looking to secure orders, according to Reuters.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSEHKG:0700HKG:9988
Asia

Market Chatter: Alibaba, Tencent Explore Investment in DeepSeek

Alibaba (HKG:9988) and Tencent (HKG:0700) are in early-stage talks to back artificial intelligence firm DeepSeek, Reuters reported Wednesday, citing The Information.The startup, supported by High-Flyer Capital Management, is looking to raise fresh capital at a valuation above $20 billion, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0700HKG:9988
Asia

Tencent Acquires Shares in Kaspi.kz

Tencent Holdings (HKG:0700) acquired 6 million American depositary shares in Kaspi.kz JSC, marking its first investment in Kazakhstan's fintech sector, according to a statement Monday.Tencent acquired the shares, which represent 3.2% of the business, from Baring Fintech Venture Funds.

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