Shang Hai Zheng Quan Bao·2025-09-05 20:21Core Insights - The profitability of leading internet companies in Hong Kong has seen strong growth in the first half of the year, driven by cost reduction and efficiency improvements alongside AI advancements [1][2] - AI is transforming from a strategic concept into a new engine for performance growth, with its commercialization progress dependent on the companies' core technology barriers and the depth of application scenarios [1][3] Company Performance - Alibaba reported a 10% year-on-year revenue growth and a 76% increase in net profit for Q2 2025, with Alibaba Cloud's revenue rising 26% to 33.398 billion yuan, marking a three-year high [2] - Tencent achieved a net profit of 103.449 billion yuan in the first half of the year, a 15.56% increase, with R&D spending up 17% to 20.25 billion yuan and capital expenditure soaring 119% to 19.11 billion yuan [2] - Xiaomi's net profit reached 22.83 billion yuan, a 146% increase, with its "smart electric vehicles and AI innovation" segment revenue growing 233.9% to 21.263 billion yuan [2] AI Impact on Companies - AI has been a key driver for many internet companies turning losses into profits, with companies like Keep achieving a net profit of 10.35 million yuan, marking a turnaround [4] - Jiufang Zhitu Holdings reported a revenue of approximately 2.1 billion yuan, a 134% increase, and turned a loss of 170 million yuan into a profit of 870 million yuan [4] - Multi-point Intelligence achieved a revenue of 1.078 billion yuan, a 14.8% increase, and a net profit of 62.17 million yuan, also turning a profit [4] AI Technology Development - AI is enhancing operational efficiency through innovations in large model technology and intelligent platforms, aiding companies in their digital and intelligent transformation [3][5] - The focus on AI development should be on key areas to create technological barriers and adapt to specific business needs, transforming R&D investments from costs to value-added items [5] Future Outlook - Hong Kong internet companies plan to integrate AI with various sectors such as gaming, fintech, e-commerce, content ecosystems, smart hardware, and cloud computing, aiming to amplify the scale effects of AI technology [6] - Alibaba's CEO emphasized continued investment in consumer and "AI + Cloud" strategies for long-term growth, while Tencent is increasing its investment in AI technology and integrating it across business lines [7] - Kingsoft's chairman stated the company will enhance R&D investments in AI and collaboration to implement products and services in more industry office scenarios [7]