TENCENT(HK:00700) Shen Zhen Shang Bao·2025-08-04 16:57Core Insights - The World Artificial Intelligence Conference (WAIC) in Shanghai showcased Shenzhen's technological prowess, with major companies like Tencent, Honor, and ZTE presenting their innovations in AI and cloud technology [1][2] - Shenzhen is rapidly building itself as a leading AI city, supported by a robust innovation ecosystem that emphasizes the role of large, medium, and small enterprises in driving technological advancements [1][6] Company Developments - Tencent has accelerated its AI strategy, with a significant investment of 70.69 billion yuan in R&D planned for 2024, bringing its cumulative R&D investment over seven years to 340.3 billion yuan [3] - Tencent's first-quarter revenue for 2024 reached 180.02 billion yuan, marking a 13% year-on-year increase, while R&D spending grew by 21% to 18.91 billion yuan [3] - Honor is transitioning from a smartphone manufacturer to an AI terminal ecosystem company, launching the MagicGUI model to lower R&D barriers and enhance user experience [4] Industry Trends - Shenzhen is home to 37 unicorn companies, ranking sixth globally, with notable firms like WeBank and DJI among the top 100 [5] - The city has nurtured 1,025 national-level specialized and innovative "little giant" enterprises, contributing to its reputation as a hub for high-quality development [6] - Shenzhen's R&D investment accounts for over 90% of the total social R&D expenditure, with more than 25,000 national high-tech enterprises established by the end of 2024 [6]