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China’s major tech players are set to kick off Q2 2025 earnings season this week, with  AI and cloud services driving growth , while  food delivery losses weigh on profitability . Earnings Calendar Tencent  – Aug 13 JD.com  – Aug 14 Xiaomi  – Aug 19 Bilibili  &  Kuaishou  – Aug 21 Alibaba, Meituan, PDD Holdings  – Dates TBD Company Highlights & Expectations 🔹 Tencent (00700.HK)  –  Gaming & AI Cloud Growth Revenue: +10–11% YoY to ~CNY 177B Adj. EBIT: +10–15% Gaming boost : Project Delta now Tencent’s 2nd-biggest domestic game (20M DAUs); Valorant mobile launching Aug 19 (CNY 7B annualized revenue est.). Advertising & cloud segments seeing AI-driven momentum, with cloud expected to return to double-digit growth. 🔹 JD.com (JD.US)  –  Retail Profits Up, Food Delivery Losses Deepen Revenue: +15% to CNY 335B EPS: -57% YoY to CNY 3.48 Food delivery unit loss: >CNY 10B in Q2, likely to persist into Q3. Retail...

Tariff Shock Looms CIMB Securities warns that Malaysia’s tech sector could be hit hard by the proposed 100% U.S. tariff on semiconductors. While a pre-tariff demand rush may offer a temporary lift, uncertainty surrounding trade policy could delay key investments and expansions, particularly for firms with high U.S. exposure. Key Risks Automated test equipment manufacturers like  Greatech Technology  and  Genetec Technology  are most vulnerable due to their heavy reliance on U.S. customers. A steep tariff could erode margins and trigger supply chain rerouting, adding cost and complexity. More Insulated Players On the other hand, outsourced semiconductor assembly and test (OSAT) players such as  Unisem (M)  and  Malaysian Pacific Industries (MPI)  are better positioned, given their limited direct exposure to U.S. shipments. Their diversified customer base offers a natural hedge. Top Sector Picks CIMB maintains a positive outlook on  Inari Amert...

The fate of TikTok’s U.S. operations could soon shift again, as  President Donald Trump confirmed  on Friday that formal negotiations with China are set to resume early next week. Speaking aboard Air Force One, Trump stated that discussions could begin as soon as  Monday or Tuesday , potentially involving Chinese President  Xi Jinping  or his representatives. “We pretty much have a deal,” Trump told reporters, referring to a long-awaited plan to  divest TikTok’s U.S. assets  from its Chinese parent,  ByteDance , into a new U.S.-controlled entity. A Deal Delayed — and Revived The TikTok restructuring deal had  stalled this spring  after China signaled resistance to approving any forced divestiture, especially amid escalating  U.S. tariff threats . The Biden-era negotiations were originally aimed at transferring TikTok’s U.S. operations into a majority  American-owned  and operated company — a structure designed to address d...