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Tencent disappoints in warning for Chinese tech sector

Tencent Holdings’ revenue missed estimates, signalling an uneven recovery for the world’s biggest internet arena.

Huawei’s cloud services business and a resurgent smartphone unit have helped mitigate the fallout from US sanctions.

The two companies have showcased new products, including an AI image generator and an AI model upgrade.

Alibaba’s cloud computing division will cut prices for its products and services by up to 50% starting on Wednesday.

Alibaba Group is planning to split into six units and explore fundraisings or listings for most of them.

Tencent Holdings founder Pony Ma and others from China’s crackdown-hit Internet sector will be absent from this year’s parliamentary sessions.