Group 1 - Tencent Holdings (00700.HK) will hold a board meeting on November 13, 2025, to approve the unaudited third-quarter results for the three and nine months ending September 30, 2025 [1] - The board will also consider the distribution of dividends, if any [1] - On September 19, Tencent spent HKD 551 million to repurchase 857,000 shares [2]

Core Viewpoint - Recent stock price surges of Tencent, Alibaba, and Baidu are driven by technological investments, aligning with long-term value creation and sustainability goals [1][2]. Group 1: Stock Performance - Baidu's stock price increased over 19% on September 17, reaching a new high since October 2023; Tencent's market value returned to HKD 6 trillion after three years; Alibaba's stock rose 5.28%, with a market value of HKD 3 trillion [1]. - Year-to-date stock price increases for Tencent, Alibaba, and Baidu are 55.76%, 97.75%, and 59.01%, respectively [1]. Group 2: R&D Investments - In 2024, Tencent, Alibaba, and Baidu plan to invest CNY 707 billion, CNY 523 billion, and CNY 221 billion in R&D, respectively [2]. - Baidu has the highest R&D expense ratio at 16.63% of its total revenue, while Alibaba and Tencent have ratios of 5.55% and 10.71%, respectively [3]. Group 3: Technological Advancements - Tencent's AI technology is integrated into over 700 business scenarios, enhancing creativity and operational efficiency [4]. - Alibaba has received approximately 21,000 global patents and has been recognized as a leader in cloud database management and container management by Gartner [4]. - Baidu has invested over CNY 180 billion in R&D over the past decade, focusing on advanced technologies like AI and autonomous driving [5]. Group 4: Ethical Considerations in Technology - Baidu has established a technology ethics committee and is actively involved in AI ethics training and standard-setting [7]. - Alibaba has created a technology ethics governance committee and has published guidelines for ethical management throughout the lifecycle of its models [7]. - Tencent has set up an AI technology committee to address ethical considerations and ensure the safe operation of AI products [7]. Group 5: Recommendations for Sustainable Development - Companies should prioritize data privacy, algorithm fairness, and technology security as part of their strategic initiatives to balance innovation and responsibility [8]. - There is an opportunity for technology giants to leverage their advantages to contribute positively to public goods in areas like inclusive finance and social welfare [8].

Group 1 - Tencent Holdings (00700.HK) announced that it will hold a board meeting on November 13, 2025, to approve the unaudited third-quarter results for the three and nine months ending September 30, 2025 [1] - The board will also consider the distribution of dividends, if any, during the meeting [1]

Core Insights - On September 19, 2025, Alibaba-W (09988), SMIC (00981), and Shankai Holdings (00412) were the top three companies by trading volume in the Southbound Stock Connect, with trading amounts of 70.25 billion, 62.79 billion, and 38.99 billion respectively [1] - In the Southbound Stock Connect for the Shenzhen-Hong Kong Stock Connect, Alibaba-W (09988), SMIC (00981), and Tencent Holdings (00700) also ranked as the top three, with trading amounts of 45.57 billion, 33.96 billion, and 15.89 billion respectively [1] Southbound Stock Connect (Hong Kong-Shanghai) - The top three active companies by trading volume were: - Alibaba-W (09988): 70.25 billion with a net buy of +4.73 billion - SMIC (00981): 62.79 billion with a net buy of +3.08 billion - Shankai Holdings (00412): 38.99 billion with a net buy of +17.21 billion [2] - Other notable companies included: - Changfei Optical Fiber (06869): 24.82 billion with a net sell of -69.08 million - Pop Mart (09992): 24.49 billion with a net buy of +9.01 billion [2] Southbound Stock Connect (Shenzhen-Hong Kong) - The top three active companies by trading volume were: - Alibaba-W (09988): 45.57 billion with a net buy of +12.54 billion - SMIC (00981): 33.96 billion with a net sell of -2.15 billion - Tencent Holdings (00700): 15.89 billion with a net buy of +27.91 million [2] - Other notable companies included: - Xiaomi Group-W (01810): 15.49 billion with a net sell of -43.27 million - Innovent Biologics (01801): 15.23 billion with a net sell of -37.09 million [2]

Core Viewpoint - Recent stock price surges of Tencent, Alibaba, and Baidu are driven by technological investments, aligning with long-term value creation and sustainability goals [1][5]. Group 1: Stock Performance - Baidu's stock price increased over 19% on September 17, reaching a new high since October 2023; Tencent's market value returned to HKD 6 trillion for the first time in three years; Alibaba's stock rose 5.28%, with a market value of HKD 3 trillion [1]. - As of September 19, year-to-date stock price increases for Tencent, Alibaba, and Baidu were 55.76%, 97.75%, and 59.01%, respectively [1]. Group 2: R&D Investments - In 2024, Tencent, Alibaba, and Baidu's R&D expenditures are projected to be CNY 70.7 billion, CNY 52.3 billion, and CNY 22.1 billion, respectively [2]. - Baidu has the highest R&D expense ratio at 16.63% of its total revenue [2][3]. - Tencent reported a 22% increase in gross profit and an 18% increase in operating profit, indicating a positive cycle between AI investment and high-quality growth [3][4]. Group 3: Technological Advancements - Tencent has integrated AI into over 700 business scenarios, enhancing creativity and operational efficiency [4]. - Alibaba has received approximately 21,000 global patents and has been recognized as a leader in cloud database management and container management by Gartner [4]. - Baidu has invested over CNY 180 billion in R&D over the past decade, focusing on advanced technologies like AI and autonomous driving [5]. Group 4: Ethical Considerations in Technology - Baidu has established a Technology Ethics Committee to oversee AI ethics, including algorithm optimization and ethical training [6]. - Alibaba has created a Technology Ethics Governance Committee and published guidelines for ethical management throughout the lifecycle of its technologies [6]. - Tencent has set up an AI Technology Committee to address development principles, performance evaluation, and ethical considerations in AI systems [6]. Group 5: Recommendations for Sustainable Development - Industry experts suggest that tech giants should prioritize data privacy, algorithm fairness, and technology security to balance innovation and responsibility [7]. - Companies are encouraged to leverage their technological advantages to contribute positively to public goods in areas like inclusive finance and social welfare [7].

主席 2025年9月19日 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 （股份代號：700（港幣櫃台）及 80700（人民幣櫃台）） 董事會會議召開日期 騰訊控股有限公司（「本公司」）董事會宣佈，本公司將於2025年11月13日（星期四） 舉行董事會會議，董事會將於會上通過議案，其中包括批准本公司及其附屬公司 截至2025年9月30日止三個月及九個月的未經審核第三季度業績及公告，以及考慮 派發股息（如有者）。 承董事會命 馬化騰 於本公告刊發日期，本公司董事為： 執行董事： 馬化騰； 非執行董事： Jacobus Petrus (Koos) Bekker 和 Charles St Leger Searle；及 獨立非執行董事： 李東生、Ian Charles Stone、楊紹信、柯楊和張秀蘭。 ...

南向资金今日净买入98.38亿港元。山高控股、阿里巴巴-W、盈富基金分别获净买入22.4亿港元、17.27 亿港元、10.7亿港元；腾讯控股净卖出额居首，金额为6.22亿港元。 (本文来自第一财经) ...

Core Viewpoint - Tencent Holdings (00700) announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Summary by Category Company Actions - The company will repurchase 857,000 shares at a total cost of HKD 551 million [1] - The buyback price ranges from HKD 638.5 to HKD 647.0 per share [1] Financial Implications - The total expenditure of HKD 551 million reflects the company's strategy to enhance shareholder value [1]

Group 1 - Tencent Holdings announced a share buyback plan, spending HKD 551 million to repurchase 857,000 shares [1] - The buyback price range is set between HKD 638.5 and HKD 647 per share [1]

Core Viewpoint - Tencent Holdings announced a share buyback plan, indicating confidence in its stock value and commitment to returning capital to shareholders [1] Group 1 - The company will repurchase 857,000 shares at a total cost of HKD 551 million [1] - The buyback price range is set between HKD 638.5 and HKD 647.0 per share [1]