In 2024, China's internet industry witnessed heightened competition, with the AI sector emerging as a prime investment target for industry giants. Nonetheless, established businesses continued to underpin profitability. Tencent's gaming arm raked in an impressive 197.7 billion yuan, while Bilibili's gaming revenue surged by 40%. Alibaba's e-commerce division maintained a steady revenue stream of 173.9 billion yuan. Xiaomi thrived in its mobile phone and IoT sectors, and advertising revenue emerged as a pivotal income source across multiple companies. Tech behemoths like Baidu, Tencent, and Alibaba speeded up the deployment of large models, fostering substantial growth in the AI cloud services market. Overseas, Tencent, Xiaomi, and Alibaba all secured notable achievements. Amidst the fierce competition in new domains, traditional businesses remained the bedrock of stable cash flow for these major corporations.