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Real-time News
March 18th - According to data released by the China Passenger Car Association (CPCA), from March 1st to 15th, the national passenger car market retail sales reached 561,000 units, a year-on-year decrease of 21% and a month-on-month increase of 2%. The cumulative retail sales since the beginning of the year reached 3.14 million units, a year-on-year decrease of 19%. From March 1st to 15th, the national new energy passenger car market retail sales reached 285,000 units, a year-on-year decrease of 28% and a month-on-month increase of 36%. The cumulative retail sales since the beginning of the year reached 1.345 million units, a year-on-year decrease of 26%.On March 18th, the China Automobile Dealers Association issued a statement saying that the Chinese auto market in 2025 will be complex and volatile. The government has introduced numerous policies to support and stabilize auto consumption, particularly the "two new" policies, which have effectively stimulated demand. However, on the distribution side, most auto dealers failed to meet their annual sales targets, price inversions persisted, losses in new car sales worsened, and the number of dealers experiencing losses increased while profitability narrowed. In 2025, more than half of the dealers failed to meet their annual sales targets, while only 44.3% met them. The sales target achievement rate was lower than in 2024. There was a significant difference in target achievement rates between domestic brands and luxury/imported brands and joint venture brands. Over 50% of dealers for luxury/imported brands and joint venture brands met their annual targets, while domestic brands generally had aggressive targets and the lowest target achievement rate.On March 18th, Tencent Holdings (00700.HK) announced that as of December 31, 2025, the Groups net cash was RMB107.1 billion, compared to RMB102.4 billion as of September 30, 2025. The increase in net cash was primarily driven by free cash flow, partially offset by RMB19.6 billion in share buybacks and RMB6.9 billion in net cash outflows mainly related to investments in other companies. Free cash flow for the fourth quarter of 2025 was RMB34 billion, reflecting net cash generated from operating activities of RMB66.5 billion, partially offset by capital expenditure payments of RMB22.4 billion (mainly to support our AI business development), media content payments of RMB8.1 billion, and lease liability payments of RMB2 billion.Tencent Holdings (00700.HK): In 2025, the Company acquired a total of 1,534,150 shares on the Stock Exchange for a total consideration of approximately HK$80 billion (excluding expenses). The acquired shares have since been cancelled.On March 18th, Tencent Holdings (00700.HK) announced that its Fintech and Enterprise Services revenue is projected to increase by 8% year-on-year to RMB 229.4 billion by 2025. Fintech services revenue grew at a high single-digit percentage year-on-year, driven by increased revenue from wealth management services, consumer lending services, and commercial payment activities. Enterprise services revenue increased by nearly 20% year-on-year, benefiting from increased demand for cloud services (including AI-related services) both domestically and overseas, as well as increased merchant technology service fee revenue driven by rising transaction volume on WeChat Mini Programs.
