HK Stock Market Move | Tencent (00700) surged more than 5% in the afternoon, and the new enterprise WeChat agent "Dayuan" began internal testing. Goldman Sachs says that the valuation recovery depends on the progress of AI narrative.

Tencent (00700) surged more than 5% in the afternoon, up 5.06% to HK$435.8 yuan, with a turnover of 9.458 billion Hong Kong dollars as of press time. On the news front, according to reports from Economic Daily News, WeChat for Enterprise is about to launch an AI agent called "Dayuan", which is currently in the internal testing phase. This product does not require users to repeatedly provide context, but can automatically understand user demands based on existing work data such as group chats, documents, meetings, emails, schedules within WeChat for Enterprise, and provide responses based on the corresponding scenarios. WeChat for Enterprise is naturally connected to WeChat, which means that in the future, "Dayuan" may not only serve internal collaboration within companies, but will also further penetrate customer management scenarios. It is worth noting that WeChat launched its internal testing of the built-in AI assistant "Xiaowei" last weekend. Goldman Sachs believes that the news of this internal testing did not boost the stock price, due to three major investor concerns: controversy over model selection, the impact of reasoning costs cannot be ignored, and the short-term path to monetization is not yet clear. The bank points out that Tencent's valuation multiple recovery in the coming quarters will mainly depend on the effectiveness of its AI narrative, with the user penetration rate of WeChat's AI assistant being a key variable in this.