On June 29th, according to a report, three individuals with knowledge of the matter stated that TENCENT (00700) has entered into a long-term supply agreement valued at over 20 billion yuan, or approximately $2.94 billion, with ChangXin Memory Technologies.

This significant contract was signed just ahead of ChangXin Memory's highly anticipated public listing.

The sources indicated that the multi-year agreement covers the supply of server DRAM chips.

Two of the individuals familiar with the deal stated the agreement's term is up to three years, while a third source suggested the duration could extend to as long as five years.