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<Research>Daiwa: AI Monetization Begins to Bear Fruit for Leaders Like TENCENT/ BABA-W w/ 5 Sector Top Picks
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The KraneShares Trust KraneShares CSI China Internet ETF (KWEB.US) surged by 11.9% in total from mid-August to mid-September, while the HSTECH advanced 5.4% in total during the same period, Daiwa published a research report saying. The performance further solidifies Daiwa's view on the structural growth of the China internet industry, with AI monetization beginning to bear fruit for leading companies like TENCENT (00700.HK), BABA-W (09988.HK) and KINGSOFT CLOUD (03896.HK), according to the Company's 2Q25 results. Daiwa believed that BABA-W's instant retail business has bottomed out, while MEITUAN-W (03690.HK)'s unit economics remained under pressure. China's internet industry showed initial success in AI commercialization, robust performance in the game business and changes in the competition landscape of the food delivery industry in 1H25. Daiwa's top picks include BABA-W, TENCENT, Sea (SE.US), XIAOMI-W (01810.HK) and Trip.com Group (TCOM.US). In the Chinese game market, Honor of Kings (HOK) remained the highest-grossing game in August, with monthly active users (MAU) flat MoM, and total sell-through increasing by 6% MoM. NTES-S (09999.HK)'s classic IP, Fantasy Westward Journey, ranked ninth in revenue in the China market in August. AASTOCKS Financial News Website: www.aastocks.com |
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