CICC has issued a research report, in which it keeps its revenue and profit projections for Tencent Holdings unchanged for the years 2025 and 2026. Additionally, it maintains the "Outperform Industry" rating for Tencent and sets a target price of HK$700. This target price implies an 8.5% increase from the current share price. On September 16, the Tencent Global Digital Ecosystem Summit unveiled a series of advancements in artificial intelligence (AI), announcing the full-scale availability of AI implementation capabilities. CICC's key insights are as follows: Firstly, there is a continuous advancement in foundational models, coupled with a faster adaptation of domestic computing power. Tencent introduced the Hunyuan 3D 3.0 foundational model, which is fully compatible with domestic chips. Secondly, Tencent's application ecosystems for both business (B-end) and consumer (C-end) markets continue to expand. On the consumer side, Tencent Yuanbao has secured a spot among the top three in terms of Daily Active Users (DAU), with the number of IMA knowledge base files surpassing 100 million. On the business side, the user base for Tencent Meeting's AI features has seen a year-on-year increase. AI programming tools have markedly enhanced efficiency, and projects related to Tencent Cloud's AI Agent are also making progress. However, CICC also cautions about potential risks, including macroeconomic uncertainties, regulatory influences, and the possibility of costs or expense ratios surpassing expectations.