On June 30, Tencent Holdings rose 3.19% in regular trading, trading at HK$433.6/share, with turnover of HK$7.997 billion.
On the news front, Qunyi Securities issued a research report maintaining a Buy rating on Tencent with a target price of HK$510, citing WeChat AI Agent progress and the small-scale testing of AI assistant Xiaowei, noting Tencent is leveraging its traffic gateway advantage to steadily advance in AI. Additionally, Tencent reportedly signed a long-term server DRAM chip supply agreement worth over RMB 20 billion with CXMT, spanning three to five years, signaling strong commitment to AI infrastructure investment.
The company has maintained a daily buyback pace of approximately HK$500 million for consecutive trading days, continuing to provide share price support. Q1 capital expenditure reached RMB 31.9 billion, up 63% quarter-over-quarter, primarily directed toward AI investment.
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