智通财经APP讯，腾讯控股(00700)发布公告，于2025年12月18日，该公司斥资6.36亿港元回购105.5万股 股份，每股回购价格为599.5-605.5港元。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 騰訊控股有限公司 呈交日期： 2025年12月18日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 00700 | 說明 | | | | | | | | 多櫃檯證券代號 | 80700 | RMB 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份（不包括庫存股份） ...

研究员：张伦可/陈淑媛 事项： 近期，腾讯举办投资者会议，管理层分享海外云、海外游戏、AI 赋能最新动态。 国信互联网观点： 海外云业务：基础设施先行，全球基础设施加速扩容，形成深耕亚洲、发力中东、辐射欧美格局。腾讯 云采取"基础设施先行"策略，在亚洲、中东、欧美加速数据中心布局，目前已覆盖全球22 个地区。其 核心优势在于技术领先（如媒体云、音视频传输、Fintech 场景）与深度本地化服务。通过成功迁移印 尼GoTo、泰国正大集团等标杆客户，证明了其以"高性价比"和优化架构（如提升响应速度、本地IDC 部署）切入市场的能力。海外竞争相对温和，腾讯主攻聚焦在SaaS 和PaaS 业务，海外客户主要包含中 企出海、本地互联网企业等。面对芯片供应等问题，腾讯优先保障内部模型训练芯片储备，同时利用 CPU 资源支撑推理场景需求。除此以外，很多海外客户自身拥有GPU 资源，腾讯帮助客户更好地利用 这些资源。 机构：国信证券 目前，东南亚云市场还在IaaS 层迁移上云的阶段。海外云市场参与者包括国际头部云厂商与国内同 行，腾讯云以"高性价比"和本地化服务为切入点，避开单纯价格战。面对芯片供应等问题，腾讯云聚焦 Paa ...

Investment Rating - The report does not explicitly state an investment rating for Tencent Holdings [2]. Core Insights - Tencent's "Friend Praise" social discount activity on WeChat aims to enhance user engagement and drive e-commerce transactions by leveraging social relationships, offering up to 45% subsidies to users [2]. - Tencent's gaming revenue from overseas markets has surpassed that of Electronic Arts (EA), with a decentralized empowerment model that allows studios creative autonomy, contributing to a more resilient gaming ecosystem [3]. - Tencent Cloud's native API has seen explosive growth, with daily calls exceeding 10 billion and over 1 million developers served, marking a shift from resource selling to capability services [4]. - Tencent's first digital therapy product has entered clinical application, showcasing the integration of gaming technology into healthcare and establishing a commercial closed loop for future digital therapy products [5]. Summary by Sections E-commerce - The launch of "Friend Praise" on WeChat targets private domain conversion, allowing users to invite friends to like products for exclusive discounts, thus enhancing product exposure and conversion rates [2]. Gaming - Elon Musk's endorsement of Tencent's gaming strategy highlights its success in overseas markets, where its revenue has outpaced EA, emphasizing a non-interfering investment approach that fosters creativity [3]. Cloud Services - Tencent Cloud's API usage has surpassed 10 billion daily calls, indicating its robust architecture and the transition to providing standardized API services for developers, facilitating digital transformation [4]. Healthcare - The introduction of Tencent's digital therapy product in clinical settings represents a significant advancement in applying gaming technology to medical interventions, establishing a precedent for future digital health solutions [5].

证券时报•数据宝统计，腾讯控股在港交所公告显示，12月17日以每股595.000港元至605.500港元的价格 回购105.70万股，回购金额达6.36亿港元。该股当日收盘价605.000港元，上涨1.42%，全天成交额89.13 亿港元。 自11月18日以来公司已连续22日进行回购，合计回购2285.70万股，累计回购金额139.86亿港元。 其间 该股累计下跌4.95%。 今年以来该股累计进行122次回购，合计回购1.45亿股，累计回购金额749.51亿港元。（数据宝） （港元） 回购最低价 （港元） 回购金额 （万港元） 2025.12.17 105.70 605.500 595.000 63572.20 2025.12.16 106.70 602.500 592.500 63566.03 2025.12.15 105.10 608.000 602.500 63579.09 2025.12.12 104.40 616.000 601.500 63582.21 2025.12.11 105.40 611.000 599.500 63593.95 2025.12.10 106.00 603.000 595. ...

2025年的中国AI战场，已从模型参数之战演变为一场关于资本效率、基础设施与流量入口的综合博 弈。 据华尔街见闻了解，当前国内已形成一场路线迥异的三国杀，阿里选择重资产投入、字节则选择了流量 突围，腾讯选择'内生验证+外溢赋能'，先在内部生态中完成打磨，再以接插件模式向用户输出成熟能 力。 在外界看来，这种策略似乎过于克制，甚至有些佛系。但最近，腾讯的AI正在悄然加速。 12月17日，据华尔街见闻消息，腾讯内部发布公告，宣布升级大模型研发架构，正式成立AI Infra部、 AI Data部、数据计算平台部。作为腾讯大模型体系的重要一环，新成立的AI Infra部将作为腾讯大模型 体系的底座，负责大模型分布式训练、高性能推理服务等核心技术。这意味着，腾讯正在从组织架构层 面全面强化其大模型的研发体系。 同时，公告显示，Vincesyao出任"CEO/总裁办公室"首席AI科学家，直接向腾讯总裁刘炽平汇报;同时兼 任AI Infra部、大语言模型部负责人，向腾讯技术工程事业群总裁卢山汇报。 这种汇报关系的扁平化，背后是腾讯提升AI研发效率，抢滩AI布局的明确信号。这一动作与谷歌异曲 同工。此前，谷歌也宣布将 AIS ...

Core Viewpoint - China's economic policies and technological advancements are creating opportunities for U.S.-listed Chinese companies, indicating a potential rebound in 2026 [2][3][8]. Economic Policy Changes - In December 2025, China's Politburo announced a shift to a moderately loose monetary policy for the first time since 2010, breaking a 14-year trend of cautious policy [3]. - The Central Economic Work Conference set a 4% budget deficit target and prioritized domestic demand for 2026 [3]. Financial Institutions' Outlook - Goldman Sachs raised its 2026 GDP forecast to 4.8%, while the IMF expects 4.5% growth, reflecting increased confidence in China's recovery plans [4]. Technology Sector Growth - China's technology sector is thriving, particularly in artificial intelligence and e-commerce, with the e-commerce market valued at approximately $2.42 trillion in 2025 and projected to grow at a CAGR of 8.9% to reach around $5.68 trillion by 2035 [5]. - Major companies like Alibaba and JD.com are leveraging AI to enhance customer experiences [5]. Manufacturing Advancements - Significant progress is being made in semiconductors and electric vehicles, with record sales of 1.82 million electric vehicles in November 2025, capturing 53% of the domestic market [6]. Government Investments - Beijing is heavily investing in green energy and advanced manufacturing technologies, with Alibaba committing over $50 billion for cloud and AI development [7]. Economic Indicators - Manufacturing activity reached a five-month high in November, and consumer prices rose to 0.7%, the highest in 21 months, indicating effective government stimulus measures [8]. Stock Performance and Opportunities - Tencent, Baidu, and Bilibili have seen recent stock declines of 13.5%, 9.3%, and 12.5% respectively, presenting potential entry points for investors [10]. - Tencent reported record gaming sales of $10 billion internationally, with a 15% revenue growth and a 43% surge in international gaming [11]. - Bilibili achieved a net profit of RMB469 million in Q3 2025, with a 233% year-over-year increase in adjusted net profit and 13 consecutive quarters of gross margin expansion [13]. - Baidu's AI capabilities are expanding, with a significant focus on semiconductor value and a projected earnings increase of 1.1% to $8.36 per share for 2026 [15][16].

腾讯控股(00700)发布公告，该公司于2025年12月17日斥资6.36亿港元回购105.7万股股份，每股回购价 格为595-605.5港元。 ...

格隆汇12月17日丨腾讯控股(00700.HK)发布公告，2025年12月17日耗资6.36亿港元回购105.7万股，回购 价格每股595-605.5港元。 ...

智通财经APP讯，腾讯控股(00700)发布公告，该公司于2025年12月17日斥资6.36亿港元回购105.7万股股 份，每股回购价格为595-605.5港元。 ...