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On September 27, Doubao Mobile Assistant released a statement in the official community regarding the abnormal usage of the Nubia NaviX Ultra phone in Honor of Kings, stating that starting from the evening of September 24, they have received feedback from users that the Nubia NaviX Ultra equipped with Doubao Mobile Assistant displays an abnormal device environment prompt when logging into Honor of Kings or during matchmaking, and users are forcibly kicked offline.Doubao Mobile Assistant stated: Upon confirmation, they have not made any operations on the Tencent game system throughout the process, and there are no violations such as unauthorized clicks, cheats, or simulation behaviors by the AI. The team is still in communication with relevant parties at Tencent, and as of now, they have not received a clear response, for which they apologize. The assistant also advises users not to repeatedly attempt to log into Honor of Kings on this model. If the account has been banned, users can appeal through the official game customer service channels.Tencent has not publicly responded. On September 28, a reporter learned from informed sources that Honor of Kings ensures game fairness through various security risk strategies, and these strategies have been consistently used over the past period without targeted adjustments.

On the morning of the event "Intelligent Payment Qianhai · Welcoming APCE" held on that day, Tencent announced the official launch of TenPay Go, the first payment application for overseas users coming to China. This tool supports foreign card payments, Apple Pay, and other payment methods for individuals coming to China to make purchases within the WeChat Pay merchant network.According to Caixin, TenPay Go has currently partnered with seven major international card organizations, including UnionPay and VISA, and can bind nearly 60 overseas wallets. TenPay Go will also collaborate with Shenzhen Tong to create a transportation card service, which can be activated for immediate use by overseas individuals, allowing them to scan codes to take the Shenzhen subway and buses, with internal testing expected to launch in late September.

On September 24, the official homepage of the local AI assistant QClaw displayed that due to business adjustments, QClaw will stop new user registrations starting today and will officially cease operations on December 24. The official statement indicated that user data migration will be supported, and migration users will receive point subsidies.According to Jiupai News, on March 10 of this year, Tencent launched the entire "Lobster" product matrix, covering general users, developers, and enterprise users. The products include WorkBuddy, QClaw, Tencent Cloud Lighthouse, intelligent agent development platform ADP, Tencent Cloud Desktop, and more. Tencent announced at that time that QClaw was in internal testing.Tencent introduced that QClaw is a local AI assistant launched based on OpenClaw, supporting one-click installation on Windows and Mac, and can be remotely controlled through WeChat conversations. After users send commands via WeChat on their phones, the assistant can automatically operate the computer to perform tasks and return results.

Zhu Xiaohu, founding partner of Jinsha River Ventures, stated: The model API business is difficult to maintain high gross margins in the long term. Anthropic currently has a gross margin of about 60%, primarily due to the strong intelligence capabilities of the model, especially in coding scenarios where it had a significant advantage, but that advantage has begun to cross a critical point; when other models catch up, the price may only be one-tenth of its current level, making it hard to maintain a high premium. Even if it remains ahead in the next few years, if the intelligence is only 10% stronger but the price is 50% higher, users may not continue to pay. Intelligence will ultimately become more like electricity and water, and the long-term gross margin for model APIs may be between 10% and 20%. Once capabilities converge, price wars will be hard to avoid, and Anthropic's urgency to go public may also be related to the window period.Zhu Xiaohu mentioned that the AI office market is definitely much larger than AI coding. AI coding was the first to emerge because engineers have a high acceptance of AI, tasks are clear, and results are easy to verify, but it is only part of office work; the truly larger market is the white-collar market, namely AI office, which is essentially a general-purpose agent, similar to Microsoft Office. The competitiveness of AI office products lies in Model + Harness + Product + Context, and once harnesses converge, competition will shift to Context.Regarding Tencent AI, Zhu Xiaohu stated that Tencent is a latecomer, and the Hunyuan model has squeezed into the top tier domestically, with WorkBuddy becoming the leading office agent application in the domestic top tier. Jinsha River Ventures has purchased a WorkBuddy enterprise account because it uses WeChat for Work, and the organizational relationships, historical communications, as well as Tencent Meeting and Tencent Docs constitute a ready-made Context.

The domestic cloud AI chip manufacturer Suiruan Technology officially landed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on September 11, with an issuance price of 142.18 yuan per share. As of the time of writing, the latest quote for the stock is 418 yuan per share, an increase of 193.99% from the issuance price, with a transaction amount of 3.404 billion yuan, a turnover rate of 44.82%, and an amplitude of 47.83%. The intraday high reached 475 yuan per share, while the lowest was 407 yuan per share, with a total market value of 179.887 billion yuan.Suiruan Technology was established in March 2018 and uses its self-developed DSA architecture. It has iterated four generations of architecture with five cloud AI chips, covering AI chips, accelerator cards and modules, intelligent computing systems, and clusters. Its third-generation product S60 has shipped a total of 160,000 units. From 2023 to 2025, the company's revenue is projected to be 301 million yuan, 722 million yuan, and 990 million yuan, respectively; in the first half of 2026, revenue is expected to be 1.12 billion yuan, a year-on-year increase of 279.08%.Tencent is the largest external shareholder of Suiruan Technology, holding a total of 20.26% of the shares along with its concerted actors, and is also the company's largest customer, with sales revenue accounting for 83.79% of total revenue in 2025. This public offering involves 43.0352 million shares, raising a total of approximately 6.119 billion yuan, mainly directed towards the research and development and industrialization projects of fifth-generation and sixth-generation AI chips.

According to the latest data from OpenRouter reported by the Daily Economic News, the total global invocation of AI large models last week (from August 31 to September 6) reached 115 trillion tokens, a month-on-month increase of 1.77%. Among them, the weekly invocation of China's AI large models reached 56.72 trillion tokens, a month-on-month increase of 2.83%, surpassing the United States (16.54 trillion tokens, a month-on-month decrease of 3.1%) for nineteen consecutive weeks, ranking first in the world.Among the top five global invocation volumes, four are Chinese models. Tencent's Hyper Yuan Hy4 preview ranks first with 14.7 trillion tokens, a month-on-month increase of 379%; GPT-5.6 Luna ranks second with 12.9 trillion tokens; Zhiyu GLM-5.3 Flash rises to third with 12.4 trillion tokens; DeepSeek-V4-Flash's official and preview versions rank fourth and fifth, respectively.MiniMax M3 returns to the list after nearly a month, ranking sixth, and has become the foundational base for Saudi HUMAIN's Arabic large model. In addition, Xiaomi MiMo-V2.5 and Gemini 3.7 Flash fell out of the list this week.

On September 2, the B.AI platform announced that Tencent's Hunyuan team has officially launched the API service for the latest open-source flagship model, Hy4 Preview, which is open for developers to access.This model is an early version of the Hy4 series, utilizing a 770B sparse MoE architecture, activating 49B parameters per token, and supporting a 1M ultra-long context window. Developers can directly call it through the official B.AI API channels by logging in at chat.b.ai/chat or visiting docs.b.ai/zh-Hans/llmservice/models/hy4-preview/ for more details.

According to Bloomberg, AI model developer MiniMax Group Inc. became the most popular Hong Kong-listed stock among mainland investors last month. Mainland investors bought MiniMax shares worth HKD 10.6 billion (approximately USD 1.4 billion) through the Stock Connect in August, surpassing Alibaba Group Holding Limited and Tencent Holdings Limited.Since the stock became eligible for trading under the Shanghai-Shenzhen-Hong Kong Stock Connect on August 6, southbound investors have accumulated a 9.7% stake in this AI startup.

Tencent WorkBuddy announced the official launch of its open platform, introducing over a hundred ecological partners in the first batch, aimed at opening underlying Agent capabilities for smart hardware, industry applications, and developers.At the press conference, 9 co-branded smart hardware products made their debut, with partners including Plaud, Rokid, Yingshi, iFlytek, Anker, Mengma, and Jingdong Jingzao; over 30 industry applications were simultaneously integrated, covering more than 20 fields including finance, law, healthcare, education, and public welfare. Previously, WorkBuddy collaborated with Li Weike Technology to launch the X-AI memory glasses and reached an ecological linkage for AI glasses with Rokid.

Tencent Hunyuan stated that since the Hunyuan Hy4 preview was first launched on WorkBuddy on August 28, 2026, it has received positive experiences and enthusiastic feedback from a wide range of users and developers due to the significant enhancement of its Agent capabilities. On the first day of launch, there were queuing situations in the WorkBuddy task queue, for which we sincerely apologize.To ensure everyone's user experience, the company has conducted emergency scaling of the Hy4 preview inference cluster and will continue to dynamically allocate resources. However, due to the limitations of high-end computing power and peak concurrent usage, it cannot be ruled out that queuing situations may continue to occur during certain periods.

According to LatePost, the general robotics company Sharpa has completed over 4.5 billion yuan in financing, with investors including Alibaba, Meituan, Tencent, JD.com, and other industrial capital, as well as Sequoia China, Qiming Venture Partners, and Meituan Longzhu. The post-investment valuation is 22 billion yuan. This is the first time Sharpa has publicly disclosed its financing since its establishment.Sharpa was founded at the end of 2024 by He Sai Technology CEO Li Yifan, CTO Xiang Shaoqing, and Chief Scientist Sun Kai, focusing on developing general-purpose robots and components that specialize in dexterous operations. Co-founder Li Yifan stated that Sharpa's logic is to first "navigate" several real-world scenarios, accumulating generalized capabilities and real data on the "track," gradually entering households starting in 2028; real scenarios must meet three conditions: the environment is not specially modified for robots, operations are fully autonomous by robots, and complex tasks involving multiple steps are completed.

Tencent Hunyuan has released and open-sourced the next-generation large language model Hy4 preview. This model has a total of 770B parameters and 49B active parameters, with a context length exceeding 1M. It demonstrates strong capabilities in real productivity tasks such as coding, office work, and science, firmly placing it in the top tier of open-source models. Hy4 preview significantly expands in model size, context length, and data scale, and enhances real-world performance through high-quality data co-built with Tencent experts in software engineering, gaming, finance, security, and deep collaboration with products like WorkBuddy.In software engineering, the model enhances understanding, planning, debugging, and verification capabilities for long-range development tasks, enabling the construction of complex front-end projects like a Three.js miniature town from scratch. In game development, it supports generating playable prototypes from a single sentence and can complete a full demo in Unity. In smart office applications, it can handle complex financial audits, filtering, analyzing, and delivering from multiple documents. In scientific research, it achieves acceleration in tasks such as molecular dynamics simulations and has initially formed a recursive self-improvement feedback loop.Hy4 preview can be experienced in Tencent products such as WorkBuddy/CodeBuddy domestic and international versions, Yuanbao, ima, and can also be accessed via API calls through Tencent Cloud Tokenhub and OpenRouter. WorkBuddy/CodeBuddy will launch a limited-time free activity for two weeks. Since the reconstruction of the infrastructure, the Hunyuan large model has iterated a major version approximately every two months, continuously optimizing through a preview-first and formal version-following approach.

According to Hong Kong Stock Exchange documents, Tencent Holdings (00700.HK) repurchased 672,000 shares on August 26, at a cost of HKD 300.4 million.

Tencent Group Senior Executive Vice President, CEO of Cloud and Smart Industries Group, Tang Daosheng, published an article in Tencent's internal publication, responding to external doubts about "Tencent being slow in AI." He stated that it is impossible to be completely untroubled; the Hunyuan large model has undergone multiple reconstructions, and Hunyuan Hy3 has shown outstanding performance among large models with equivalent parameters. However, due to the company's overall lack of computing power, the training of models and product development has been significantly slowed down, resulting in a considerable impact.Tang Daosheng mentioned that waking up early may not be the most critical factor; the second half of AI has just begun, and enduring longer provides the opportunity to seize the continuously emerging new opportunities.

Xpeng Motors (NYSE: XPEV) robotics subsidiary has signed a share purchase agreement with investors, aiming to raise over $900 million, with a post-investment valuation exceeding $6.3 billion. Xpeng stated that this is the largest single financing completed by a Chinese company in the robotics field to date. The financing round was led by IDG Capital, with strategic follow-on investments from Tencent and Alibaba, and participation from Gao Rong Capital and others.In terms of financing structure, external investors contributed approximately $600 million, Xpeng's subsidiary contributed about $200 million, and CEO He Xiaopeng along with co-president Gu Hongdi's related entities contributed around $100 million. Xpeng will retain about 82% of the controlling stake and consolidate this business. The funds will be used for the research and development of the flagship humanoid robot IRON, the construction of embodied intelligence and data capabilities, as well as mass production and business expansion aimed for the end of 2026. IRON is equipped with Xpeng's self-developed robotics and AI-specific chips.This subsidiary is part of Xpeng's robotics platform Dogotix (Xpeng robotic dog/humanoid robot related entities). Alibaba and Tencent had previously participated as Pre-IPO investors in the financing of the Chinese humanoid robotics company Yushu Technology.

Tencent Interactive Entertainment Group (IEG) is integrating ARC Lab and the Game AI Engine Department to establish a new AI gaming department (tentatively named ARC Lab), led by Chen Dong, the head of Tencent Games Public Technology. The aim is to explore AI-native games. The department currently has about 100 people, with plans to expand to 400 to 500, and is actively recruiting on a large scale for top multimodal generation teams, covering areas such as audio and video foundational models, video world models, Agents, etc.According to informed sources, the early formation model of the department references the talent and data supply chain paths of Seedance and Keling, focusing on exploring the possibility of directly generating games from video models. Tencent IEG has a cash flow of 130.1 billion yuan in game revenue for the first half of the year and approximately 10,000 H card computing power reserves, as well as exclusive game data that cannot be accessed by the mixed Yuan large model. Currently, Tencent's AI game development is showing a parallel multi-system situation: TEG provides basic capabilities, the IEG middle platform integrates tools, and the four major studios are advancing independently, with no unified standards yet. The specific organizational structure is still being refined, and the final plan will be subject to official announcement.

On August 21, the B.AI platform announced that Tencent's next-generation foundational model Hy3 is officially launched and is fully open for free on both Web Chat and API. As a hardcore model that adopts a fusion architecture of fast and slow thinking, Hy3 has achieved breakthrough advancements in dimensions such as agent engineering, complex code generation, long-range intent understanding, and resistance to hallucinations, specifically designed for real productivity scenarios. Starting today, all users can log in to the B.AI platform with zero barriers to freely use this top-tier model capability from Tencent, experiencing the strong empowerment that cutting-edge AI technology brings to development and creation at no cost.

According to X user MaxForAI, Tencent has begun gray testing its brand new flagship model, Hunyuan Hy4. Some users have discovered that the model selection list in the Tencent Yuanbao App now includes Hy4, labeled as an expert-level model, ranking above Hy3 and DeepSeek. The official account @TencentHunyuan also shows this model option at the relevant entry.Last week, Tencent confirmed in its Q2 financial report that the larger parameter-scale Hy4 will be launched soon, further enhancing model performance and multimodal capabilities. Currently, Tencent has not officially released Hy4, and the outside world cannot confirm whether this is a small-scale gray test or an early opening of the entry, but based on the progress, the model's launch seems imminent.

China has begun to relax import restrictions on NVIDIA's H200. ByteDance and Tencent have each received about 10,000 H200 in recent weeks, and several other tech companies may soon be approved for similar quantities.The United States had previously approved several Chinese companies to purchase H200, but the transactions had been stuck in the Chinese approval process. Now, chips are finally starting to enter the mainland in batches, but it is far from a complete opening.Beijing currently only allows a small number of H200 to enter the mainland, hoping that companies will deploy more chips in overseas regions such as Hong Kong. Mainland procurement still requires separate approval. This approach allows leading AI companies to continue using NVIDIA to train cutting-edge models while also leaving market space for domestic chips like those from Huawei.

Tencent Holdings fell 4.46%, with a market value of 4 trillion Hong Kong dollars, approximately 3.44 trillion yuan. Changxin Technology's closing market value today is 3.5 trillion yuan, surpassing Tencent Holdings to become the largest listed company by market value in China.