Chart Preview | Earnings Season Begins for Chinese Tech Stocks! Tencent and JD.com Report First, Facing Dual Challenges of AI and Profitability

In August, with earnings releases from major tech and internet giants such as Tencent, JD.com, Alibaba, and Meituan, market focus on China’s internet leaders has shifted from whether they would continue facing headwinds to whether they could further validate a recovery in profitability. Institutions expect further divergence in performance among large internet platforms, with AI revenue growth, profit margins, and capital expenditures emerging as key focal points.

Futu NewsAug 7 18:10

Xiaomi Group-W (1810.HK): Q2 2026 Earnings Preview – Marginal Easing of Memory-Related Pressures; Watch for Catalyst from Pengcheng's New Vehicle Launch

Key View: In the short term, the pace of global memory price increases is gradually slowing, leading to a marginal easing of cost pressures on memory. On the smartphone side, continued implementation of price hikes and product mix optimization has driven ASP to a new阶段性 high, maintaining a degree of resilience in smartphone gross margins. On the automotive side,

CITIC SecuritiesAug 7 20:57

Market Snapshot | All three major indices rose, with the Hang Seng Tech Index up 0.78%; large-model-related stocks performed strongly, Zhipu AI surged nearly 15%, and MINIMAX gained almost 10%; PCB-related stocks advanced, with T.T. Board Holdings rising

Technology and internet stocks declined across the board, with SenseTime Group down 3.95% and NetEase up 1.08%; pharmaceutical stocks rose collectively, led by Pharmaron advancing 12.07% and Insilico Medicine up 10.88%; semiconductor stocks gained, with GigaDevice rising 6.80% and Tianshu Zhixin up 6.31%;

Futu NewsAug 7 16:25

August 6 Buyback Roundup | Xiaomi Group-W, Yum China, and others announced share repurchases, with Xiaomi Group-W spending HK$49.9504 million

According to a filing disclosed by the Hong Kong Exchange on August 7, Xiaomi Group-W (01810.HK), Yum China (09987.HK), and others repurchased shares. ① Xiaomi Group-W (01810.HK) repurchased 1.862 million shares of weighted voting rights shares on August 6, for a total amount of HK$49.9504 million, at prices ranging from HK$26.76 to HK$26.88 per share. Since the adoption of the share repurchase mandate, the cumulative number of securities repurchased has reached 96.3774 million shares, representing 0.37% of the issued shares outstanding as of the date the ordinary resolution was passed. ② Yum China

Futu NewsAug 7 09:30

ByteDance is reportedly planning to train a large AI model with over 5 trillion parameters.

Chinese media, citing sources, reported that ByteDance is currently discussing the development of a model with over 5 trillion parameters—surpassing Alibaba’s Qwen 3.8-Max (2.4 trillion parameters) and Moonshot AI’s K3 (2.8 trillion parameters)—making it the largest-parameter model known to date in China. The plan remains in its early stages, and the model may not ultimately be released. It is understood that the new model will be led by Xiang Liang, head of Seed Foundation, in collaboration with Shen Ke, who oversees pre-training data for large language models. To this end, Seed is currently reorganizing its structure, clarifying responsibilities, and allocating resources. Seed team

AASTOCKSAug 7 09:12

ZHITONG HK Stock Connect Holding Analysis | August 7

Stock Connect Holdings Analysis | August 6, 2026

Zhitong FinanceAug 7 08:30