| 21:15 |
TCL電子(01070.HK)2026年一季度增長強勁
經調整歸母淨利潤同比倍增140.0%至3.8億港元 正式與索尼合作拓展全球家庭娛樂產業 業績亮點 - TCL電子憑藉「全球化」與「中高端化」的雙輪驅動戰略,經營業績保持強勁增長。2026年一季度,收入同比增長15.3%至292.2億港元,除稅後利潤同比增長236.0%至3.9億港元,經調整歸母淨利潤同比增長140.0%至3.8億港元。公司經營效率持續提升,整體費用[1]率同比下降0.7個百分點至12.5%。
- 2026年一季度,TCL TV在全球超二十個國家市佔率排名穩居前三[2];TCL Mini LED TV保持高速增長,全球出貨規模同比增長102.1%,其中海外市場TCL Mini LED TV出貨規模同比高增178.3%。一季度海外大呎吋顯示業務毛利率同比提升3.7個百分點至16.6%。
- 互聯網業務維持高盈利水平,2026年一季度收入同比增長13.2%至7.4億港元,毛利率顯著提升10.6個百分點至65.0%。截至3月底TCL Channel累計用戶數突破4,950萬。
- 創新業務規模持續躍升,2026年一季度收入同比增長8.1%至89.6億港元,其中光伏業務延續穩健增長勢頭,收入同比增長12.7%至48.1億港元,新增裝機量超1.3GW。
- 2026年3月,TCL電子與索尼就家庭娛樂領域的戰略合作簽署具有法律約束力的最終協議,未來將通過合資公司共築全球家庭娛樂產業新生態,進一步深化集團在全球中高端市場的戰略佈局。
香港2026年5月13日 /美通社/ -- TCL電子控股有限公司(「TCL電子」或「公司」,01070.HK)今天公佈截至2026年3月31日止之第一季度未經審核之財務業績。2026年第一季度,公司堅定推進「全球化」及「中高端化」戰略,提升產品競爭力,降本增效,帶動主營業務實現有質增長,第一季度實現收入292.2億港元,同比增長15.3%;毛利同比增長27.6%至47.2億港元。 公司持續提升經營效率,一季度整體費用率同比下降0.7個百分點至12.5%,整體盈利水平持續優化。一季度,除稅後利潤同比增長236.0%至3.9億港元,經調整歸母淨利潤同比增長140.0%至3.8億港元。 2026年3月31日,公司與索尼就家庭娛樂領域的戰略合作簽署具有法律約束力的最終協議,未來將通過合資公司共築全球家庭娛樂產業新生態,進一步深化集團在全球中高端市場的戰略佈局。 顯示業務提質增長,中高端產品延續全球出貨領先優勢 第一季度,公司依託品牌勢能上行、全球渠道高效拓展及產品結構持續優化,顯示業務收入同比增長19.0%至195.2億港元,毛利同比增長39.9%至33.2億港元,毛利率同比提升2.5個百分點至17.0%。 受益於中高端及大呎吋TV佔比持續提升,產品結構升級成效進一步顯現,第一季度大呎吋顯示業務收入同比增長17.2%至167.1億港元,毛利率同比提升3.0個百分點至17.5%。顯示業務大呎吋化趨勢持續增強,TV產品全球平均呎吋較去年同期增長2.3吋至55.6吋;65吋及以上TV出貨量佔比同比提升4.9個百分點至32.6%;75吋及以上TV出貨量佔比同比提升3.4個百分點至17.1%。 中高端產品延續全球出貨領先優勢。TCL Mini LED TV保持高速增長,全球出貨規模同比增長102.1%,佔比同比增長6.6個百分點至15.4%;其中海外市場TCL Mini LED TV出貨規模同比增長178.3%,佔比同比提升8.2個百分點至14.2%。隨著大呎吋TV及Mini LED TV佔比持續提升,海外市場產品結構進一步改善,公司海外大呎吋顯示業務毛利率同比提升3.7個百分點至16.6%。 此外,公司持續擴張全球渠道佈局並深化重點渠道建設,進一步提升終端零售能力及品牌影響力,推動TCL TV在全球超二十個國家市佔率排名穩居前三。 海外高毛利業務快速增長,互聯網業務維持高盈利水平 2026年第一季度,互聯網業務收入同比增長13.2%至7.4億港元,毛利率同比顯著提升10.6個百分點至65.0%。其中,高毛利水平的海外互聯網業務收入佔比同比提升超20.0個百分點。 国际市場方面,公司強化與Google、Roku、Netflix等頭部平台合作,合作層級持續深化;同時內容聚合應用TCL Channel進一步升級,內容豐富度、用戶體驗及商業變現效率均大幅提升,截至2026年3月底TCL Channel累計用戶數突破4,950萬。國內市場方面,公司聚焦用戶體驗差異化,持續優化場景化服務產品,致力於打造真正改變用戶心智的行業標杆場景。公司依託全球家庭場景資源,持續搭建多屏聯動、全場景智慧服務體系,以規模擴容夯實盈利水平。 光伏業務延續穩健增長勢頭,毛利率進一步提升 2026年第一季度,公司創新業務收入同比增長8.1%至89.6億港元。其中,光伏業務延續穩健增長勢頭,收入同比增長12.7%至48.1億港元,新增裝機量超1.3GW。受益於業務規模擴大、經營質量改善及海外市場拓展逐步見效,光伏業務毛利率同比提升至9.4%。 第一季度,公司光伏業務堅持「相對輕資產」運營模式,整體經營健康發展,國內業務實現平穩增長,行業競爭力進一步提升;同時,公司有序推進海外市場佈局,並於歐洲重點國家取得實質性進展。 - 完 - 有關 TCL 電子 TCL 電子控股有限公司(01070.HK,於開曼群島註冊成立之有限公司),自 1999 年 11 月起於香港聯交所主板上市,業務範圍涵蓋顯示業務、創新業務以及互聯網業務。TCL 電子以「戰略引領、創新驅動、先進製造、全球經營」為經營理念,積極變革創新,聚焦突破全球中高端市場,努力夯實「智能物聯生態」全品類佈局,致力為用戶提供全場景智慧健康生活,致力成為全球化經營的領先智能終端企業。TCL 電子已獲納入深港通之合資格港股通股份名單,是恒生港股通指數、恒生綜合中大型股指數及恒生綜合中型股指數基準指數成分股,並從 2018 年起連續多年獲得恒生指數公司授予 ESG 評級 A。 如欲查詢更多資料,請瀏覽 TCL 電子投資者關係網站 http://electronics.tcl.com 或訪問 TCL 電子投資者關係官方微信公眾號。 [1] 整體費用包含銷售及分銷支出和行政支出。 | [2] 數據源:除美國市場為Circana 2026年第一季度零售量排名數據,其餘市場為公司內部報告2026年第一季度零售量排名數據。 |
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| 20:31 |
TCL Electronics (01070.HK) Maintains Strong Growth in Q1 2026
Adjusted Profit Attributable to Owners of the Parent Surges by 140.0% YoY to HK$384 Million Officially Partnered with Sony to Expand the Global Home Entertainment Industry Results Highlights - Leveraging the dual-drive strategy of "Globalisation" and "Mid-to-High-End Positioning", TCL Electronics sustained strong momentum in operational performance. In the first quarter of 2026, revenue increased by 15.3% YoY to HK$29.2 billion, profit after tax increased by 236.0% YoY to HK$392 million, and adjusted profit attributable to owners of the parent increased by 140.0% YoY to HK$384 million. The Company's operational efficiency continued to improve, with overall expense[1] ratio decreasing by 0.7 percentage points YoY to 12.5%.
- In the first quarter of 2026, TCL TV's market share remained among the top three in over 20 countries worldwide[2]; TCL Mini LED TV maintained high growth, with global shipment increasing by 102.1% YoY, and overseas market TCL Mini LED TV shipment surging by 178.3% YoY. In the first quarter, the gross profit margin of the overseas large-sized display business was driven up by 3.7 percentage points YoY to 16.6%.
- The internet business sustained high profitability. In the first quarter of 2026, revenue increased by 13.2% YoY to HK$740 million, and gross profit margin improved significantly by 10.6 percentage points YoY to 65.0%. As of the end of March, cumulative users of TCL Channel exceeded 49.5 million.
- The innovative business continued its scale expansion, with revenue in the first quarter of 2026 increasing by 8.1% YoY to HK$9.0 billion. Among these, the photovoltaic business continued its steady growth momentum, with revenue increasing by 12.7% to 4.8 billion, and newly installed capacity exceeding 1.3GW.
- In March 2026, TCL Electronics entered into a legally binding definitive agreement with Sony to form a strategic partnership in the home entertainment sector via a joint venture. Both parties will jointly build a new global home entertainment ecosystem, further deepening the Group's strategic layout in the global mid-to-high-end market.
HONG KONG, May 13, 2026 /PRNewswire/ -- TCL Electronics Holdings Limited ("TCL Electronics" or the "Company", 01070.HK) today announced its unaudited results for the first quarter ended 31 March 2026. In the first quarter of 2026, the Company firmly advanced its strategies of "Globalisation" and "Mid-to-High-End Positioning", enhanced product competitiveness, reduced costs and improved efficiency, driving its core business to achieve quality growth. In the first quarter, the Company recorded revenue of HK$29.2 billion, representing a YoY increase of 15.3%; gross profit increased by 27.6% YoY to HK$4.7 billion. The Company continuously improved operational efficiency. In the first quarter, the overall expense ratio decreased by 0.7 percentage points YoY to 12.5%, and overall profitability continued to be optimised. During the first quarter, profit after tax increased by 236.0% YoY to HK$392 million, and adjusted profit attributable to owners of the parent increased by 140.0% YoY to HK$384 million. On 31 March 2026, the Company signed a legally binding definitive agreement with Sony for a strategic partnership in the home entertainment sector. Going forward, both parties will jointly build a new global home entertainment industry ecosystem through a joint venture, further deepening the Group's strategic layout in the global mid-to-high-end market. Display business achieved quality growth, and mid-to-high-end products sustained their leading position in global shipment In the first quarter of 2026, leveraging the upward trend in brand momentum, efficient expansion of global channels and continuous optimisation of product mix, the Company's display business revenue increased by 19.0% YoY to HK$19.5 billion, gross profit increased by 39.9% YoY to HK$3.3 billion, and gross profit margin improved by 2.5 percentage points YoY to 17.0%. Benefitting from the continuous increase in the proportion of mid-to-high-end and large-sized TVs, the effect of product mix upgrade was further demonstrated. In the first quarter, revenue of the large-sized display business increased by 17.2% YoY to HK$16.7 billion, and gross profit margin improved by 3.0 percentage points YoY to 17.5%. The trend of larger-size development in the display business continued to strengthen. The global average screen size of TV products increased by 2.3 inches YoY to 55.6 inches; the shipment proportion of 65-inch and above TVs increased by 4.9 percentage points YoY to 32.6%; the shipment proportion of 75-inch and above TVs increased by 3.4 percentage points YoY to 17.1%. Mid-to-high-end products maintained their leading edge in global shipment. TCL Mini LED TV sustained rapid growth, with global shipment increasing by 102.1% YoY and its proportion rising by 6.6 percentage points YoY to 15.4%. Among them, TCL Mini LED TV shipment in overseas markets increased by 178.3% YoY, with its proportion improving by 8.2 percentage points YoY to 14.2%. As the proportion of large-sized TVs and Mini LED TVs continued to rise, the product mix in overseas markets was further improved, and the gross profit margin of the Company's overseas large-sized display business increased by 3.7 percentage points YoY to 16.6%. In addition, the Company continued to expand its global channel layout and deepen the development of key channels, further enhancing terminal retail capabilities and brand influence as well as driving TCL TV's market share to remain among the top three in more than 20 countries worldwide. High-margin overseas businesses delivered a significant boost, sustaining high profitability for the Internet Business In the first quarter of 2026, Internet business revenue increased by 13.2% YoY to HK$740 million, with gross profit margin improving significantly by 10.6 percentage points YoY to 65.0%. Among these, the revenue proportion of high-margin overseas Internet business increased by more than 20.0 percentage points YoY. In overseas markets, the Company strengthened cooperation with leading platforms, including Google, Roku and Netflix, with the depth of collaboration continuously intensified. Meanwhile, the Company further upgraded its integrated content application TCL Channel, with significant enhancements in content richness, user experience and monetisation efficiency. As of the end of March 2026, cumulative users of TCL Channel exceeded 49.5 million. In the domestic market, the Company focused on differentiated user experience and continuously optimised scenario-based service products, committing to building industry-benchmark scenarios that genuinely redefines consumer perception. Leveraging global home scenario resources, the Company continued to build a multi-screen linkage and all-scenario smart service ecosystem, consolidating profitability through scale expansion. Photovoltaic Business maintained a steady growth momentum with further improvement in gross profit margin In the first quarter of 2026, the Company's innovative business revenue increased by 8.1% YoY to HK$8.9 billion. Among these, the photovoltaic business maintained a steady growth momentum, with revenue increasing by 12.7% YoY to HK$4.8 billion and newly installed capacity exceeding 1.3GW. Benefitting from business scale expansion, improvement in operational quality and gradual materialisation of overseas market development, the gross profit margin of the photovoltaic business increased YoY to 9.4%. In the first quarter, the Company's photovoltaic business adhered to its "relatively asset-light" operating model and maintained sound overall operations. The domestic business achieved steady growth with further enhanced industry competitiveness. Meanwhile, the Company steadily advanced its overseas market layout and made tangible progress in key European countries. - Ends - About TCL Electronics TCL Electronics Holdings Limited (01070.HK, incorporated in the Cayman Islands with limited liability) has been listed on the Main Board of The Stock Exchange of Hong Kong Limited since November 1999. Its business scope covers display business, innovative business, and internet business. Guided by the business philosophy of "Strategy Guidance, Innovation Driven, Advanced Manufacturing and Global Operation", TCL Electronics actively embraces transformation and innovation and focuses on breaking into the mid-to-high-end global market, and strives for an all-category layout for the "Smart IoT Ecosystem". Dedicated to providing users with all-scenario smart healthy living experiences, TCL Electronics aims to become a leading global intelligent terminal enterprise. TCL Electronics is included in the list of eligible shares for the Shenzhen-Hong Kong Stock Connect. It is a constituent stock of the Hang Seng Stock Connect Hong Kong Index, the Hang Seng Composite LargeCap & MidCap Index, and the Hang Seng Composite MidCap Index. Since 2018, the Company has been awarded an ESG rating of A by Hang Seng Indexes Company for several consecutive years. For more information, please visit TCL Electronics' investor relations website at http://electronics.tcl.com to access the official WeChat account of TCL Electronics Investor Relations. [1] Overall expenses include selling and distribution expenses and administrative expenses. | [2] Source: Except for the U.S. market, where data is based on Circana's retail sales volume ranking data for Q1 2026, all other markets are based on the Company's internal retail sales volume ranking data for Q1 2026. |
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| 17:56 |
騰訊公佈二零二六年第一季業績
混元迭代性能躍升 智能體應用成果凸顯 AI賦能主業穩健增長 香港2026年5月13日 /美通社/ -- 世界領先的互聯網科技公司——騰訊控股有限公司(港交所代碼:00700(港幣櫃台)及80700(人民幣櫃台),「騰訊」或「本公司」)今天公佈截至二零二六年三月三十一日止第一季(「1Q2026」)未經審核綜合業績。 董事會主席兼首席執行官馬化騰表示:「二零二六年伊始,我們在新AI產品上取得了顯著突破,並持續以AI賦能核心業務增長。重組後的AI研發團隊重構了AI基礎設施,搭建了Hy3 preview模型,在同等參數規模的模型中性能領先,兼具實用性與性價比;自4月28日以來,其在OpenRouter的token消耗量排行榜上穩居前列。我們的效率AI智能體解決方案已初見成效,我們相信,WorkBuddy目前是中國使用最廣的效率AI智能體服務。同時,我們的核心業務在用戶粘性、收入及盈利上持續增長,既為AI投入提供了充裕的現金流支持,也為AI的落地應用奠定了豐富的場景基礎。」 1Q2026財務摘要 總收入:同比增長9%,毛利:同比增長11%,按非國際財務報告準則的經營盈利:同比增長9% - 總收入為人民幣1,965億元,較二零二五年第一季(「同比」)增長9%。
- 毛利為人民幣1,113億元,同比增長11%。
- 按非國際財務報告準則,撇除若干一次性及/或非現金項目的影響,以體現核心業務的業績:
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- 經營盈利為人民幣756億元,同比增長9%; 經營利潤率為38.5%,較去年持平。
- 若剔除新AI產品[1],經營盈利為人民幣844億元,同比增長17%; 若剔除新AI產品,經營利潤率由去年的39.9%提升至43.0%。
- 盈利為人民幣698億元,同比增長11%。
- 本公司權益持有人應佔盈利為人民幣679億元,同比增長11%。
- 每股基本盈利為人民幣7.517元,每股攤薄盈利為人民幣7.364元。
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- 經營盈利為人民幣674億元,同比增長17%; 經營利潤率由去年的32.0%提升至34.3%。
- 盈利為人民幣594億元,同比增長19%。
- 本公司權益持有人應佔盈利為人民幣581億元,同比增長21%。
- 每股基本盈利為人民幣6.431元,每股攤薄盈利為人民幣6.302元。
- 資本開支為人民幣319億元,同比增加16%。
- 總現金為人民幣 5,337 億元,同比增長12%。自由現金流為人民幣567億元,同比增長20%。現金淨額為人民幣1,469億元,同比增長63%。
- 於2026年3月31日,我們於上市投資公司(不包括附屬公司)權益[2]的公允價值為人民幣5,471億元,對比2025年12月31日的公允價值為人民幣6,727億元。於2026年3月31日,我們於非上市投資公司(不包括附屬公司)權益的賬面價值為人民幣3,651億元,對比2025年12月31日的賬面價值為人民幣3,631億元。
- 1Q2026,本公司於香港聯交所以約76億港元的總代價回購約1,265萬股股份。
[1] 剔除新AI產品(Hy、元寶、CodeBuddy、WorkBuddy及QClaw)之收入、成本及開支 | [2] 包括透過特殊目的公司持有的權益,且按應佔基準計 | 1Q2026管理層討論及分析 增值服務1Q2026收入同比增長4%至人民幣961億元。本土市場遊戲收入為人民幣454億元,同比增長6%,收入增速滯後於本土市場遊戲流水增速,因2026年春節假期晚於2025年,導致更多收入遞延至本季之後確認。本土市場遊戲流水同比增長十幾個百分點,因受《王者榮耀》、《和平精英》等現有長青遊戲,以及《三角洲行動》(近期已躋身長青遊戲之列) 、《無畏契約:源能行動》等近期發佈遊戲的推動。國際市場遊戲收入為人民幣188億元,同比增長13%(按固定匯率計算為14%),增長主要由《部落衝突:皇室戰爭》、《鳴潮》及《無畏契約》個人電腦端所帶動。社交網絡收入同比下降2%至人民幣319億元,因2026年春節假期晚於2025年,令1Q2026確認的本土市場手機遊戲應用道具銷售收入較1Q2025減少。 營銷服務1Q2026收入為人民幣382億元,同比增速由4Q2025的17%提升至本季的20%。我們升級了AI驅動的廣告推薦模型,擴展了微信生態內的閉環營銷能力,從而改善了廣告效果,提升了廣告單價。大多數主要行業的廣告主投放本季度均有增長,其中互聯網服務、電商和遊戲行業的增長尤其顯著。 金融科技及企業服務1Q2026的收入同比增長9%至人民幣599億元。金融科技服務收入增長主要由商業支付及理財服務收入的增長驅動。企業服務收入同比增長20%,其中得益於國內與海外市場需求提升(包括AI相關服務)以及更有利的定價環境共同推動了雲服務收入增長,及微信小店交易額上升而帶動商家技術服務費收入增長。 經營數據
| 於2026年 3月31日 | 於2025年 3月31日 | 同比變動 | 於2025年 12月31日 | 環比變動 |
| (百萬計,另有指明者除外) | 微信及WeChat的 合併月活躍賬戶數 | 1,432 | 1,402 | 2 % | 1,418 | 1 % |
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| QQ的移動終端月活躍賬戶數 | 516 | 534 | -3 % | 508 | 2 % |
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| 收費增值服務訂閱會員數[3] | 266 | 268 | -0.7 % | 267 | -0.4 % | 1Q2026業務回顧及展望 - 我們多款長青遊戲[4]在本季流水創下新高,包括《王者榮耀》、《和平精英》和《三角洲行動》,新遊戲《洛克王國:世界》也大受歡迎。
- 我們的智能投放產品矩陣騰訊營銷AIM+賦能了廣告主營銷服務投放金額的約30%,並在小遊戲、短劇和微信小店廣告主中獲得了廣泛應用。
- 我們擴大了視頻號內容推薦模型參數規模並優化了模型算法,向用戶推送更相關的內容。視頻號總用戶使用時長同比增長超過20%。
- 我們為微信小店品牌商家提供了激勵措施,並向資深買家推出了優惠券分享功能,微信小店交易額維持快速的同比增長。
- 商業支付金額同比增速較4Q2025提升,受益於交易筆數持續增長,以及零售與餐飲服務等品類的筆均交易金額上升。
- 騰訊雲效率AI智能體解決方案實現了快速的增長與健康的留存率。其中,以日活躍賬戶數計,WorkBuddy已成為中國最受歡迎的效率AI智能體服務。
- 四月我們發佈了基於重構後的AI基礎設施上搭建的Hy3 preview大語言模型。我們相信Hy3 preview在推理、智能體和代碼的能力上,為同等參數規模的模型中表現最佳的。自4月28日以來,以token消耗量計,其已成為OpenRouter上最廣受使用的模型。
有關更詳細的披露,請瀏覽https://www.tencent.com/zh-hk/investors.html或通過微信公眾號(微信號:TencentGlobal)关注我们。 [3] 季度訂閱會員數的日均值 | [4] 長青遊戲指於本土及國際市場,季度平均日活躍賬戶數超過500萬的手遊或超過200萬的個人電腦遊戲,且年流水超過人民幣40 億元 | 關於騰訊 騰訊以技術豐富互聯網用戶的生活。 通過通信及社交服務微信和QQ,促進用戶互相連接,並助其連接數字內容、網上及線下服務。通過定向營銷服務,助力廣告主觸達數以億計的中國消費者。通過金融科技及企業服務,促進合作夥伴業務增長,助力實現數字化升級。 騰訊大力投資於人才隊伍和推動科技創新,積極參與互聯網行業協同發展。騰訊於1998年在中國深圳成立,騰訊2004年於香港聯合交易所上市。 投資者查詢:[email protected] 媒體查詢:[email protected] 非國際財務報告準則財務計量 為補充根據國際財務報告準則編制的本集團(「本公司及其附屬公司」)綜合業績,若干額外的非國際財務報告準則財務計量(經營盈利、經營利潤率、期內盈利、本公司權益持有人應佔盈利、每股基本盈利及每股攤薄盈利)已於本公佈內呈列。此等未經審核非國際財務報告準則財務計量應被視為根據國際財務報告準則編制的本集團財務業績的補充而非替代計量。此外,此等非國際財務報告準則財務計量的定義可能與其他公司所用的類似詞彙有所不同。 本公司的管理層相信,非國際財務報告準則財務計量藉排除若干非現金項目及投資相關交易的若干影響為投資者評估本集團核心業務的業績提供有用的補充資料。此外,非國際財務報告準則調整包括本集團主要聯營公司的相關非國際財務報告準則調整,此乃基於相關主要聯營公司可獲得的已公佈財務資料或本公司管理層根據所獲得的資料、若干預測、假設及前提所作出的估計。 重要注意事項 本新聞稿載有前瞻性陳述,涉及本集團的業務展望、財務表現估計、預測業務計劃及增長策略。該等前瞻性陳述是根據本集團現有的資料,亦按本新聞稿刊發之時的展望為基準,在本新聞稿內載列。該等前瞻性陳述是根據若干預測、假設及前提,當中有些涉及主觀因素或不受我們控制。該等前瞻性陳述或會證明為不正確及可能不會在將來實現。該等前瞻性陳述涉及許多風險及不明朗因素。鑑於風險及不明朗因素,本新聞稿內所載列的前瞻性陳述不應視為董事會或本公司聲明該等計劃及目標將會實現,故投資者不應過於倚賴該等陳述。 簡明綜合收益表 | 人民幣百萬元(特別說明除外) |
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| 1Q2026 | 1Q2025 | 4Q2025 | 收入 | 196,458 | 180,022 | 194,371 | 增值服務 | 96,110 | 92,133 | 89,920 | 營銷服務 | 38,171 | 31,853 | 41,116 | 金融科技及企業服務 | 59,885 | 54,907 | 60,818 | 其他 | 2,292 | 1,129 | 2,517 | 收入成本 | (85,193) | (79,529) | (86,082) | 毛利 | 111,265 | 100,493 | 108,289 | 毛利率 | 57 % | 56 % | 56 % | 銷售及市場推廣開支 | (11,343) | (7,866) | (12,983) | 一般及行政開支 | (33,800) | (33,664) | (36,283) | 其他收益/(虧損)淨額 | 1,253 | (1,397) | 1,315 | 經營盈利 | 67,375 | 57,566 | 60,338 | 經營利潤率 | 34 % | 32 % | 31 % | 投資收益/(虧損)淨額及其他 | 1,928 | 1,407 | 3,303 | 利息收入 | 4,025 | 3,748 | 4,784 | 財務成本 | (2,979) | (3,860) | (3,573) | 分佔聯營公司及合營公司盈利(虧損)/淨額 | 3,620 | 4,581 | 6,832 | 除稅前盈利 | 73,969 | 63,442 | 71,684 | 所得稅開支 | (14,577) | (13,717) | (12,595) | 期內盈利 | 59,392 | 49,725 | 59,089 |
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| 下列人士應佔: |
| 本公司權益持有人 | 58,093 | 47,821 | 58,260 | 非控制性權益 | 1,299 | 1,904 | 829 |
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| 非國際財務報告準則經營盈利 | 75,627 | 69,320 | 69,518 | 非國際財務報告準則 本公司權益持有人應佔盈利 | 67,905 | 61,329 | 64,694 |
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| 本公司權益持有人應佔 每股盈利(每股人民幣元) |
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| - 基本 | 6.431 | 5.252 | 6.433 | - 攤薄 | 6.302 | 5.129 | 6.276 | 簡明綜合全面收益表 | 人民幣百萬元(特別說明除外) |
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| 1Q2026 | 1Q2025 | 期內盈利 |
| 59,392 | 49,725 | 其他全面收益(除稅淨額): |
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| 其後可能會重新分類至損益的項目 |
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| 分佔聯營公司及合營公司其他全面收益 | (222) | 652 | 處置及視同處置聯營公司及合營公司後分佔其他全面收益轉至損益 | 135 | - | 以公允價值計量且其變動計入其他全面收益的 金融資產的公允價值變動(虧損)/收益淨額 | (60) | 106 | 處置以公允價值計量且其變動計入其他全面收益的金融資產後轉至損益 | (19) | 1 | 外幣折算差額 |
| (13,883) | 2,294 | 對沖儲備變動淨額 |
| (5) | (213) |
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| 其後不會重新分類至損益的項目 |
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| 分佔聯營公司及合營公司其他全面收益 |
| (330) | 522 | 以公允價值計量且其變動計入其他全面收益的金融資產的公 允價值變動(虧損)/收益淨額 |
| (66,118) | 26,361 | 外幣折算差額 |
| (2,887) | 370 | 對沖儲備變動淨額 |
| (3) | 6 |
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| (83,392) | 30,099 | 期內全面收益總額 |
| (24,000) | 79,824 | 下列人士應佔: |
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| 本公司權益持有人 |
| (22,676) | 75,858 | 非控制性權益 |
| (1,324) | 3,966 | 其他財務資料 | 人民幣百萬元(特別說明除外) | 未經審核 |
| 1Q2026 | 1Q2025 | 4Q2025 | EBITDA (a) | 84,167 | 73,817 | 77,126 | 經調整的EBITDA (a) | 89,617 | 81,559 | 83,048 | 經調整的EBITDA比率 (b) | 46 % | 45 % | 43 % | 利息及相關開支 | 3,134 | 3,386 | 3,323 | 現金淨額 (c) | 146,860 | 90,229 | 107,145 | 資本開支 (d) | 31,936 | 27,476 | 19,632 | 附註 | (a) EBITDA乃按經營盈利扣除其他收益/(虧損)淨額,加回物業、設備及器材、投資物業及使用權資產的折舊、以及無形資產及土地 使用權的攤銷計算。經調整的EBITDA乃按EBITDA加按權益結算的股份酬金開支計算 | (b) 經調整的EBITDA比率乃按經調整的EBITDA除以收入計算 | (c) 現金淨額為期末餘額,乃根據現金及現金等價物加定期存款及其他(包括為資金管理目的而持有的高流動性投資產品),減借款及 應付票據計算 | (d) 資本開支主要包括對信息技術基礎設施(包括電腦設備、零配件及軟件)、數據中心、土地使用權、辦公園區及知識產權(不包括媒 體內容)的投入 | 簡明綜合財務狀況表 | 人民幣百萬元(特別說明除外) |
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| 未經審核 | 經審核 |
| 於2026年 3月31日 | 於2025年 12月31日 | 資產 |
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| 非流動資產 |
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| 物業、設備及器材 | 165,666 |
| 149,905 | 土地使用權 | 22,122 |
| 22,339 | 使用權資產 | 17,353 |
| 17,367 | 在建工程 | 5,719 |
| 9,670 | 投資物業 | 1,131 |
| 950 | 無形資產 | 199,008 |
| 205,999 | 於聯營公司的投資 | 330,532 |
| 342,409 | 於合營公司的投資 | 6,374 |
| 6,303 | 以公允價值計量且其變動計入損益的金融資產 | 208,887 |
| 207,157 | 以公允價值計量且其變動計入其他全面收益的 金融資產 | 298,052 |
| 356,640 | 預付款項、按金及其他資產 | 45,424 |
| 24,540 | 其他金融資產 | 1,084 |
| 1,327 | 遞延所得稅資產 | 29,698 |
| 28,618 | 定期存款 | 73,404 |
| 70,302 |
| 1,404,454 |
| 1,443,526 |
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| 流動資產 |
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| 存貨 | 582 |
| 530 | 應收賬款 | 58,116 |
| 49,930 | 預付款項、按金及其他資產 | 117,147 |
| 111,270 | 其他金融資產 | 3,779 |
| 4,201 | 以公允價值計量且其變動計入損益的金融資產 | 27,627 |
| 35,929 | 以公允價值計量且其變動計入 其他全面收益的金融資產 | 8,781 |
| 8,781 | 定期存款 | 205,537 |
| 236,801 | 受限制現金 | 7,597 |
| 6,977 | 現金及現金等價物 | 217,770 |
| 141,041 |
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| 646,936 |
| 595,460 | 資產總額 | 2,051,390 |
| 2,038,986 | 簡明綜合財務狀況表(續上) |
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| 人民幣百萬元(特別說明除外) |
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| 未經審核 | 經審核 |
| 於2026年 | 於2025年 |
| 3月31日 | 12月31日 | 權益 |
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| 本公司權益持有人應佔權益 |
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| 股本 | - |
| - | 股本溢價 | 68,575 |
| 63,796 | 庫存股 | (1,060) |
| (3,450) | 股份獎勵計劃所持股份 | (8,605) |
| (7,124) | 其他儲備 | 7,640 |
| 90,494 | 保留盈利 | 1,061,102 |
| 1,010,436 |
| 1,127,652 |
| 1,154,152 |
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| 非控制性權益 | 83,975 |
| 86,913 | 權益總額 | 1,211,627 |
| 1,241,065 |
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| 負債 |
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| 非流動負債 |
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| 借款 | 207,881 |
| 208,369 | 應付票據 | 124,350 |
| 126,204 | 長期應付款項 | 10,752 |
| 10,544 | 其他金融負債 | 3,679 |
| 2,879 | 遞延所得稅負債 | 23,591 |
| 21,684 | 租賃負債 | 13,074 |
| 13,280 | 遞延收入 | 2,564 |
| 2,210 |
| 385,891 |
| 385,170 |
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| 流動負債 |
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| 應付賬款 | 141,748 |
| 121,127 | 其他應付款項及預提費用 | 81,153 |
| 96,496 | 借款 | 51,114 |
| 42,618 | 應付票據 | 3,460 |
| 10,542 | 流動所得稅負債 | 19,961 |
| 18,558 | 其他稅項負債 | 6,130 |
| 3,723 | 其他金融負債 | 3,355 |
| 3,992 | 租賃負債 | 5,632 |
| 5,386 | 遞延收入 | 141,319 |
| 110,309 |
| 453,872 |
| 412,751 | 負債總額 | 839,763 |
| 797,921 | 權益及負債總額 | 2,051,390 |
| 2,038,986 | 非國際財務報告準則財務計量與根據國際財務報告準則編製的最近計量之間的調節 |
| 已報告 | 調整 | 非國際財務報告準則 | 人民幣百萬元 百分比除外 | 股份酬金 (a) | 來自投資公司的 (收益)/虧損淨額 (b) | 無形資產攤銷 (c) | 減值撥備/(撥回) (d) | SSV及CPP (e) | 所得稅影響 (f) |
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| 未經審核截至 2026 年 3 月 31 日止三個月 |
| 經營盈利 | 67,375 | 6,534 | – | 1,578 | – | 140 | – | 75,627 | 分佔聯營公司及合營公司盈利/ (虧損) 淨額 | 3,620 | 810 | 817 | 1,612 | 264 | – | – | 7,123 | 期內盈利 | 59,392 | 7,344 | (3,255) | 3,190 | 2,467 | 765 | (130) | 69,773 | 本公司權益持有人應佔盈利 | 58,093 | 7,193 | (3,342) | 2,862 | 2,397 | 765 | (63) | 67,905 | 經營利潤率 | 34 % |
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| 38 % |
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| 未經審核截至 2025 年3 月 31 日止三個月 |
| 經營盈利 | 57,566 | 10,100 | – | 1,515 | – | 139 | – | 69,320 | 分佔聯營公司及合營公司盈利/ (虧損)淨額 | 4,581 | 968 | 111 | 1,713 | 267 | – | – | 7,640 | 期內盈利 | 49,725 | 11,068 | (31) | 3,228 | (689) | 160 | (769) | 62,692 | 本公司權益持有人應佔盈利 | 47,821 | 10,833 | 1,081 | 2,854 | (719) | 160 | (701) | 61,329 | 經營利潤率 | 32 % |
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| 39 % |
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| 未經審核截至 2025 年12月 31 日止三個月 |
| 經營盈利 | 60,338 | 7,210 | – | 1,594 | – | 376 | – | 69,518 | 分佔聯營公司及合營公司盈利/ (虧損)淨額 | 6,832 | 773 | (26) | 1,522 | 46 | – | – | 9,147 | 期內盈利 | 59,089 | 7,983 | (7,479) | 3,116 | 3,617 | 1,338 | (953) | 66,711 | 本公司權益持有人應佔盈利 | 58,260 | 7,902 | (7,515) | 2,793 | 2,812 | 1,338 | (896) | 64,694 | 經營利潤率 | 31 % |
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| 36 % | 附註: | (a) 包括授予投資公司僱員的認沽期權(可由本集團收購的投資公司的股份及根據其股份獎勵計劃而發行的股份)及其他獎勵 | (b) 包括視同處置/處置投資公司、投資公司的公允價值變動的(收益)/虧損淨額以及與投資公司股權交易相關的其他開支 | (c) 因收購產生的無形資產攤銷 | (d) 主要包括於聯營公司、合營公司、商譽及收購產生的其他無形資產的減值撥備/(撥回) | (e) 主要包括本集團可持續社會價值及共同富裕計劃項目所產生的捐款及開支 | (f) 非國際財務報告準則調整的所得稅影響 |
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| 17:55 |
TENCENT ANNOUNCES 2026 FIRST QUARTER RESULTS
Significant Progress in Hy Capabilities and Productivity AI Agents
Utilising AI to Grow Existing Core Businesses HONG KONG, May 13, 2026 /PRNewswire/ -- Tencent Holdings Limited (HKEX: 00700 (HKD Counter) and 80700 (RMB Counter), "Tencent" or "the Company"), a world-leading Internet and technology company in China, today announced the unaudited consolidated results for the quarter ended 31 March 2026 ("1Q2026"). Mr. Ma Huateng, Chairman and CEO of Tencent, said, "We started 2026 by making significant initial progress on our new AI products, as well as continuing to utilise AI to grow our existing core businesses. The Hy3 preview model, built by our revamped team of AI researchers on re-architected AI infrastructure, is a leader in its parameter size class, delivering practical utility and cost efficiency, and has been top ranked in OpenRouter token measurements since April 28. Our productivity AI agent solutions have attained early traction, and we believe that our WorkBuddy is currently the most widely used productivity AI agent service in China. Our core businesses continued to grow their engagement, revenue and profit, providing the cash flow to fund our AI investments, as well as use cases for future AI deployment." 1Q2026 Financial Highlights Revenues: +9% YoY, gross profit: +11% YoY, non-IFRS operating profit: +9% YoY - Total revenues were RMB196.5 billion, up 9% over the first quarter of 2025 ("YoY").
- Gross profit was RMB111.3 billion, up 11% YoY.
- On a non-IFRS basis, which is intended to reflect core earnings by excluding certain one-time and/or non-cash items:
- Operating profit was RMB75.6 billion, up 9% YoY. Operating margin was largely stable at 38.5%.
- Operating profit excluding new AI products[1] was RMB 84.4 billion, increased by 17% YoY. Operating margin excluding new AI products increased to 43.0% from 39.9% last year.
- Net profit was RMB 69.8 billion, up 11% YoY.
- Net profit attributable to equity holders of the Company was RMB67.9 billion, up 11% YoY.
- Basic earnings per share were RMB7.517. Diluted earnings per share were RMB7.364.
- On an IFRS basis:
- Operating profit was RMB67.4 billion, up 17% YoY. Operating margin increased to 34.3% from 32.0% last year.
- Net profit was RMB59.4 billion, up 19% YoY.
- Net profit attributable to equity holders of the Company was RMB58.1 billion, up 21% YoY.
- Basic earnings per share were RMB6.431. Diluted earnings per share were RMB6.302.
- Capital expenditure was RMB31.9 billion, up 16% YoY.
- Total cash was RMB533.7 billion, up 12%. Free cash flow was RMB56.7 billion, up 20% YoY. Net cash position totalled RMB146.9 billion, up 63%.
- The fair value of our shareholdings[2] inlisted investee companies (excluding subsidiaries) totalled RMB547.1 billion as at 31 March 2026, compared with RMB672.7 billion as at 31 December 2025. The carrying book value of our shareholdings inunlisted investee companies (excluding subsidiaries) was RMB365.1 billion as at 31 March 2026, compared with RMB363.1 billion as at 31 December 2025.
- During 1Q2026, the Company repurchased approximately 12.7 million shares on the Hong Kong Stock Exchange for an aggregate consideration of approximately HKD7.6 billion.
[1] Excludes revenues, costs and expenses for new AI products (Hy, Yuanbao, CodeBuddy, WorkBuddy, and QClaw) | [2] Including those held via special purpose vehicles, on an attributable basis | 1Q2026 Management Discussion and Analysis Revenues from VAS increased by 4% year-on-year to RMB96.1 billion for 1Q2026. Domestic Games revenues were RMB45.4 billion, up 6% YoY, with revenue growth lagging Domestic Games gross receipts growth, as the later timing of the Spring Festival period in 2026 versus 2025 shifted a portion of revenue recognition out of the current quarter. Domestic Games gross receipts grew at a teens percentage rate YoY, driven by existing evergreen games including Honour of Kings and Peacekeeper Elite, as well as more recent game releases including Delta Force, which has recently qualified for the definition of an evergreen game, and VALORANT Mobile. International Games revenues were RMB18.8 billion, up 13% YoY (14% on a constant-currency basis), primarily driven by higher revenues from Clash Royale, Wuthering Waves and VALORANT PC. Social Networks revenues decreased by 2% YoY to RMB31.9 billion, as the later timing of the Spring Festival period resulted in less revenue recognition for domestic app-based game item sales during 1Q2026 versus 1Q2025. Revenues from Marketing Services were RMB38.2 billion for 1Q2026, up 20% YoY, improving from 17% YoY growth in 4Q2025. We upgraded our AI-driven ad recommendation model and expanded closed-loop marketing capabilities within the Weixin ecosystem, which improved ad performance and pricing. Advertising spending grew across most major industry categories during the quarter, with notable growth from Internet services, eCommerce and games categories. Revenues from FinTech and Business Services increased by 9% YoY to RMB59.9 billion for 1Q2026. FinTech Services revenue growth was mainly due to higher revenues from commercial payment and wealth management services. Business Services revenues rose by 20% YoY, with growth led by increased cloud services revenues supported by higher demand across domestic and international markets, including demand for AI-related services, and a more favorable pricing environment, as well as higher eCommerce technology service fees arising from growth in Mini Shops GMV. Operating Metrics
| As at 31 March 2026 | As at 31 March 2025 | Year- on-year change | As at 31 December 2025 | Quarter- on-quarter change |
| (in millions, unless specified) |
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|
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| Combined MAU of Weixin and WeChat | 1,432 | 1,402 | 2 % | 1,418 | 1 % |
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| Mobile device MAU of QQ | 516 | 534 | -3 % | 508 | 2 % |
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| Fee-based VAS subscriptions[3] | 266 | 268 | -0.7 % | 267 | -0.4 % |
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| 1Q2026 Business Review and Outlook - Several of our evergreen games[4] achieved life-time highs in quarterly gross receipts, including Honour of Kings, Peacekeeper Elite and Delta Force, while new game Roco Kingdom: World achieved substantial popularity.
- Our automated campaign management solution AIM+ powered approximately 30% of our total marketing services spending from advertisers, gaining notable traction among mini game, mini drama and mini shop advertisers.
- We scaled up the number of parameters and enhanced the algorithms for Video Accounts' content recommendation model, enabling delivery of more relevant content to users. Total time spent on Video Accounts grew over 20% year-on-year.
- Mini Shops sustained a rapid year-on-year growth rate in GMV as we offered incentives for brand merchants and introduced coupon sharing features for frequent buyers.
- Commercial payment volume grew at a faster year-on-year rate than 4Q2025, benefitting from ongoing increase in number of transactions and higher value per transaction in categories such as retail and dining services.
- Tencent Cloud's productivity AI agent solutions achieved rapid growth and healthy retention rates. Among which, WorkBuddy was the most popular productivity AI agent service in China, measured by DAU.
- In April, we launched the Hy3 preview large language model, building upon a revamped AI infrastructure. We believe the Hy3 preview model is currently best in class among similar-size models in terms of reasoning, agentic and coding capabilities, and has become the most used model on OpenRouter since April 28, measured by token usage.
[3] Average daily number of subscriptions during the quarter | [4] Evergreen games refer to domestic and international games surpassing average quarterly DAU of 5 million for mobile or 2 million for PC, and generating over RMB4 billion annual gross receipts | For other detailed disclosure, please refer to our website https://www.tencent.com/en-us/investors.html, or follow us via Weixin Official Account (Weixin ID: TencentGlobal) About Tencent Tencent uses technology to enrich the lives of Internet users. Our communication and social services, Weixin and QQ, connect users with each other and with digital content and services, both online and offline, making their lives more convenient. Our targeted marketing services helps advertisers reach out to hundreds of millions of consumers in China. Our FinTech and business services support partners' business growth and assist their digital upgrade. Tencent invests heavily in talent and technological innovation, actively promoting the development of the Internet industry. Tencent was founded in Shenzhen, China, in 1998. Tencent has been listed on the Main Board of the Stock Exchange of Hong Kong since 2004. Investor contact: [email protected] Media contact: [email protected] Non-IFRS Financial Measures To supplement the consolidated results of the Group ("the Company and its subsidiaries") prepared in accordance with IFRS, certain additional non-IFRS financial measures (in terms of operating profit, operating margin, profit for the period, profit attributable to equity holders of the Company, basic EPS and diluted EPS) have been presented in this press release. These unaudited non-IFRS financial measures should be considered in addition to, not as a substitute for, measures of the Group's financial performance prepared in accordance with IFRS. In addition, these non-IFRS financial measures may be defined differently from similar terms used by other companies. The Company's management believes that the non-IFRS financial measures provide investors with useful supplementary information to assess the performance of the Group's core operations by excluding certain non-cash items and certain impact of investment-related transactions. In addition, non-IFRS adjustments include relevant non-IFRS adjustments for the Group's major associates based on available published financials of the relevant major associates, or estimates made by the Company's management based on available information, certain expectations, assumptions and premises. Forward-Looking Statements This press release contains forward-looking statements relating to the business outlook, estimates of financial performance, forecast business plans and growth strategies of the Group. These forward-looking statements are based on information currently available to the Group and are stated herein on the basis of the outlook at the time of this press release. They are based on certain expectations, assumptions and premises, some of which are subjective or beyond our control. These forward-looking statements may prove to be incorrect and may not be realised in the future. Underlying these forward-looking statements are a lot of risks and uncertainties. In light of the risks and uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as representations by the Board or the Company that the plans and objectives will be achieved, and investors should not place undue reliance on such statements. CONDENSED CONSOLIDATED INCOME STATEMENT RMB in millions, unless specified
| Unaudited |
| 1Q2026 | 1Q2025 | 4Q2025 | Revenues | 196,458 | 180,022 | 194,371 | VAS | 96,110 | 92,133 | 89,920 | Marketing Services | 38,171 | 31,853 | 41,116 | FinTech and Business Services | 59,885 | 54,907 | 60,818 | Others | 2,292 | 1,129 | 2,517 | Cost of revenues | (85,193) | (79,529) | (86,082) | Gross profit | 111,265 | 100,493 | 108,289 | Gross margin | 57 % | 56 % | 56 % | Selling and marketing expenses | (11,343) | (7,866) | (12,983) | General and administrative expenses | (33,800) | (33,664) | (36,283) | Other gains/(losses), net | 1,253 | (1,397) | 1,315 | Operating profit | 67,375 | 57,566 | 60,338 | Operating margin | 34 % | 32 % | 31 % | Net gains/(losses) from investments and others | 1,928 | 1,407 | 3,303 | Interest income | 4,025 | 3,748 | 4,784 | Finance costs | (2,979) | (3,860) | (3,573) | Share of profit/(losses) of associates and joint ventures, net | 3,620 | 4,581 | 6,832 | Profit before income tax | 73,969 | 63,442 | 71,684 | Income tax expense | (14,577) | (13,717) | (12,595) | Profit for the period | 59,392 | 49,725 | 59,089 |
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|
|
| Attributable to: |
| Equity holders of the Company | 58,093 | 47,821 | 58,260 | Non-controlling interests | 1,299 | 1,904 | 829 |
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| Non-IFRS operating profit | 75,627 | 69,320 | 69,518 | Non-IFRS profit attributable to equity holders of the Company | 67,905 | 61,329 | 64,694 |
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|
|
| Earnings per share for profit attributable to equity holders of the Company (in RMB per share) |
|
|
| - basic | 6.431 | 5.252 | 6.433 | - diluted | 6.302 | 5.129 | 6.276 | CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME RMB in millions, unless specified
| Unaudited |
| 1Q2026 | 1Q2025 | Profit for the period | 59,392 | 49,725 | Other comprehensive income, net of tax: |
|
| Items that may be subsequently reclassified to profit or loss |
|
| Share of other comprehensive income of associates and joint ventures | (222) | 652 | Transfer of share of other comprehensive income to profit or loss upon disposal and deemed disposal of associates and joint ventures | 135 | - | Net (losses)/gains from changes in fair value of financial assets at fair value through other comprehensive income | (60) | 106 | Transfer to profit or loss upon disposal of financial assets at fair value through other comprehensive income | (19) | 1 | Currency translation differences | (13,883) | 2,294 | Net movement in reserves for hedges | (5) | (213) | Items that will not be subsequently reclassified to profit or loss |
|
| Share of other comprehensive income of associates and joint ventures | (330) | 522 | Net (losses)/gains from changes in fair value of financial assets at fair value through other comprehensive income | (66,118) | 26,361 | Currency translation differences | (2,887) | 370 | Net movement in reserves for hedges | (3) | 6 |
| (83,392) | 30,099 | Total comprehensive income for the period | (24,000) | 79,824 | Attributable to: |
|
| Equity holders of the Company | (22,676) | 75,858 | Non-controlling interests | (1,324) | 3,966 | OTHER FINANCIAL INFORMATION RMB in millions, unless specified
| Unaudited |
| 1Q2026 | 1Q2025 | 4Q2025 | EBITDA (a) | 84,167 | 73,817 | 77,126 | Adjusted EBITDA (a) | 89,617 | 81,559 | 83,048 | Adjusted EBITDA margin (b) | 46 % | 45 % | 43 % | Interest and related expenses | 3,134 | 3,386 | 3,323 | Net cash (c) | 146,860 | 90,229 | 107,145 | Capital expenditures (d) | 31,936 | 27,476 | 19,632 |
| Note: | (a) EBITDA is calculated as operating profit minus other gains/(losses), net, and adding back depreciation of property, plant and equipment, investment properties as well as right-of-use assets, and amortisation of intangible assets and land use rights. Adjusted EBITDA is calculated as EBITDA plus equity-settled share-based compensation expenses | (b) Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by revenues | (c) Net cash represents period end balance and is calculated as cash and cash equivalents, plus term deposits and others, including highly liquid investment products held for treasury purposes, minus borrowings and notes payable | (d) Capital expenditures primarily consist of investments in IT infrastructure (including computer equipment, components, and software), data centres, land use rights, office premises and intellectual properties (excluding media content) | CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION RMB in millions, unless specified
| Unaudited | Audited |
| As at 31 March, 2026 | As at 31 December, 2025 | ASSETS |
|
|
| Non-current assets |
|
|
| Property, plant and equipment | 165,666 |
| 149,905 | Land use rights | 22,122 |
| 22,339 | Right-of-use assets | 17,353 |
| 17,367 | Construction in progress | 5,719 |
| 9,670 | Investment properties | 1,131 |
| 950 | Intangible assets | 199,008 |
| 205,999 | Investments in associates | 330,532 |
| 342,409 | Investments in joint ventures | 6,374 |
| 6,303 | Financial assets at fair value through profit or loss | 208,887 |
| 207,157 | Financial assets at fair value through other comprehensive income | 298,052 |
| 356,640 | Prepayments, deposits and other assets | 45,424 |
| 24,540 | Other financial assets | 1,084 |
| 1,327 | Deferred income tax assets | 29,698 |
| 28,618 | Term deposits | 73,404 |
| 70,302 |
|
|
|
|
| 1,404,454 |
| 1,443,526 |
|
|
|
| Current assets |
|
|
| Inventories | 582 |
| 530 | Accounts receivable | 58,116 |
| 49,930 | Prepayments, deposits and other assets | 117,147 |
| 111,270 | Other financial assets | 3,779 |
| 4,201 | Financial assets at fair value through profit or loss | 27,627 |
| 35,929 | Financial assets at fair value through other comprehensive income | 8,781 |
| 8,781 | Term deposits | 205,537 |
| 236,801 | Restricted cash | 7,597 |
| 6,977 | Cash and cash equivalents | 217,770 |
| 141,041 |
|
|
|
|
| 646,936 |
| 595,460 |
|
|
|
| Total assets | 2,051,390 |
| 2,038,986 | CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (continued) RMB in millions, unless specified
|
| Unaudited | Audited |
|
| As at 31 March, 2026 | As at 31 December, 2025 | EQUITY |
|
|
|
| Equity attributable to equity holders of the Company |
|
|
|
| Share capital |
| - |
| - | Share premium |
| 68,575 |
| 63,796 | Treasury shares |
| (1,060) |
| (3,450) | Shares held for share award schemes |
| (8,605) |
| (7,124) | Other reserves |
| 7,640 |
| 90,494 | Retained earnings |
| 1,061,102 |
| 1,010,436 |
|
| 1,127,652 |
| 1,154,152 |
|
|
|
|
| Non-controlling interests |
| 83,975 |
| 86,913 |
|
|
|
|
| Total equity |
| 1,211,627 |
| 1,241,065 |
|
|
|
|
| LIABILITIES |
|
|
|
| Non-current liabilities |
|
|
|
| Borrowings |
| 207,881 |
| 208,369 | Notes payable |
| 124,350 |
| 126,204 | Long-term payables |
| 10,752 |
| 10,544 | Other financial liabilities |
| 3,679 |
| 2,879 | Deferred income tax liabilities |
| 23,591 |
| 21,684 | Lease liabilities |
| 13,074 |
| 13,280 | Deferred revenue |
| 2,564 |
| 2,210 |
|
|
|
|
|
|
| 385,891 |
| 385,170 |
|
|
|
|
| Current liabilities |
|
|
|
| Accounts payable |
| 141,748 |
| 121,127 | Other payables and accruals |
| 81,153 |
| 96,496 | Borrowings |
| 51,114 |
| 42,618 | Notes payable |
| 3,460 |
| 10,542 | Current income tax liabilities |
| 19,961 |
| 18,558 | Other tax liabilities |
| 6,130 |
| 3,723 | Other financial liabilities |
| 3,355 |
| 3,992 | Lease liabilities |
| 5,632 |
| 5,386 | Deferred revenue |
| 141,319 |
| 110,309 |
|
|
|
|
|
|
| 453,872 |
| 412,751 |
|
|
|
|
| Total liabilities |
| 839,763 |
| 797,921 |
|
|
|
|
| Total equity and liabilities |
| 2,051,390 |
| 2,038,986 | RECONCILIATIONS OF THE GROUP'S NON-IFRS FINANCIAL MEASURES TO THE NEAREST MEASURES PREPARED IN ACCORDANCE WITH IFRS
| As reported | Adjustments | Non-IFRS | RMB in millions, unless specified | Share-based compensation (a) | Net (gains)/losses from investee companies (b) | Amortisation of intangible assets (c) | Impairment provisions/ (reversals) (d) | SSV & CPP (e) | Income tax effects (f) |
|
| Unaudited three months ended 31 March 2026 |
| Operating profit | 67,375 | 6,534 | – | 1,578 | – | 140 | – | 75,627 | Share of profit/(loss) of associates and joint ventures, net | 3,620 | 810 | 817 | 1,612 | 264 | – | – | 7,123 | Profit for the period | 59,392 | 7,344 | (3,255) | 3,190 | 2,467 | 765 | (130) | 69,773 | Profit attributable to equity holders | 58,093 | 7,193 | (3,342) | 2,862 | 2,397 | 765 | (63) | 67,905 | Operating margin | 34 % |
|
|
|
|
|
| 38 % |
|
| Unaudited three months ended 31 March 2025 |
| Operating profit | 57,566 | 10,100 | – | 1,515 | – | 139 | – | 69,320 | Share of profit/(loss) of associates and joint ventures, net | 4,581 | 968 | 111 | 1,713 | 267 | – | – | 7,640 | Profit for the period | 49,725 | 11,068 | (31) | 3,228 | (689) | 160 | (769) | 62,692 | Profit attributable to equity holders | 47,821 | 10,833 | 1,081 | 2,854 | (719) | 160 | (701) | 61,329 | Operating margin | 32 % |
|
|
|
|
|
| 39 % |
|
| Unaudited three months ended 31 December 2025 |
| Operating profit | 60,338 | 7,210 | – | 1,594 | – | 376 | – | 69,518 | Share of profit/(loss) of associates and joint ventures, net | 6,832 | 773 | (26) | 1,522 | 46 | – | – | 9,147 | Profit for the period | 59,089 | 7,983 | (7,479) | 3,116 | 3,617 | 1,338 | (953) | 66,711 | Profit attributable to equity holders | 58,260 | 7,902 | (7,515) | 2,793 | 2,812 | 1,338 | (896) | 64,694 | Operating margin | 31 % |
|
|
|
|
|
| 36 % |
| Note: | (a) Including put options granted to employees of investee companies on their shares and shares to be issued under investee companies' share-based incentive plans which can be acquired by the Group, and other incentives | (b) Including net (gains)/losses on deemed disposals/disposals of investee companies, fair value changes arising from investee companies, and other expenses in relation to equity transactions of investee companies | (c) Amortisation of intangible assets resulting from acquisitions | (d) Mainly including impairment provisions/(reversals) for associates, joint ventures, goodwill and other intangible assets arising from acquisitions | (e) Mainly including donations and expenses incurred for the Group's Sustainable Social Value and Common Prosperity Programme ("SSV & CPP") initiatives | (f) Income tax effects of non-IFRS adjustments |
|
| 12:45 |
SK Hynix CEO Said to Meet Microsoft Bill Gates to Deepen HBM Supply Co-op
SK Hynix (000660.KS) CEO Kwak Noh-Jung will meet with Microsoft Corporation (MSFT.US) Co-founder Bill Gates and CEO Satya Nadella in the US, Korean media reported, citing sources.
The event is expected to further deepen the strategic partnership between Microsoft and SK Hynix, particularly in HBM supply.
Microsoft is a major customer of SK Hynix's DRAM and NAND flash products. ~
AASTOCKS Financial News Website: www.aastocks.com
Information Provided by AAStocks Financial News [ Disclaimer]
|
| 12:31 |
Sands China Committed to Advancing Macao's Economic Diversification
Driving the development of Macao as World Centre of Tourism and Leisure through integration, innovation, and inclusion MACAO, May 13, 2026 /PRNewswire/ -- At Tuesday's opening ceremony of G2E Asia 2026, the annual trade show and conference for the Asian gaming industry, Grant Chum, chief executive officer and executive director of Sands China Ltd., delivered the keynote address to 200 industry leaders and tourism stakeholders from across the region at The Venetian® Macao. The keynote shed light on insights to Macao's integrated tourism development and pathways to its citywide diversification. At G2E Asia 2026 on Tuesday, Grant Chum, chief executive officer and executive director of Sands China Ltd., delivers a keynote address to 200 industry leaders and tourism stakeholders from across the region. The keynote shed light on insights to Macao’s integrated tourism development and pathways to its citywide diversification. Themed "Evolving Together: Advancing Macao's Diversification Through Integration, Innovation, and Inclusion," the keynote speech outlined how Sands China's visionary integration, transformative innovation, and inclusive growth have collectively shaped a blueprint for Macao's sustainable development. Such a forward-looking blueprint traces back to the far-sighted vision of Sheldon G. Adelson, the late founder of Las Vegas Sands Corp. Under his leadership, the group's first property in Macao, Sands® Macao, was launched in 2004; it was followed by the 2007 launch of The Venetian® Macao, the city's first large-scale integrated resort that merges retail, entertainment, hospitality, and MICE facilities. Ever since, Sands China has laid the foundation for the Cotai Strip, ushering in a new era for Macao's tourism industry. To support Macao's economic diversification, Sands China has continuously invested in a holistic focus on hospitality, MICE, entertainment, and retail. Its 14,000-seat Venetian Arena, constantly staging large-scale concerts and performances by international superstars, has played a key role in positioning Macao more prominently on the global stage. The company also operates over 1.6 million square feet of MICE facilities, instrumental in drawing world-class MICE events and a large flow of business visitors to Macao, extending visitors' stay, and further strengthening Macao's status as a leading business tourism destination in Asia. In addition, Sands China owns the city's largest retail offering, comprising nearly 780 world-renowned duty-free retail outlets, providing strong support for the development of Macao's retail sector. As the pioneer of the integrated resort model in Macao, Sands China has remained steadfast in fostering the city's economic diversification for over 20 years and continues to hold strong confidence in its future development. With the leadership of the central and the Macao SAR governments, Macao's long-term political stability under the "One Country, Two Systems" framework has positioned the city as a safe, resilient operating environment for long-term investment, sustained development, and high-quality growth. Macao further benefits from strong organic demand – driven by its proximity to a population of nearly 90 million in the Greater Bay Area and its connectivity to key global markets. Together with tourism infrastructure developed by Sands China and industry peers over years, the synergy that has formed enables Macao to continuously attract diverse groups of tourists and effectively capture visitor demand. Furthermore, Macao's supply advantage in having an unmatched critical mass of high-quality integrated resorts, together with government-backed infrastructure such as the Hong Kong–Zhuhai–Macao Bridge, have further enabled the scale and efficiency of Macao's tourism ecosystem and sustained its competitiveness. Looking ahead, Chum underscored the growing importance of the "Event Economy" as a key driver of the next phase of Macao's diversification journey, with purposeful programming playing an increasingly strategic role in attracting international visitors and facilitating further economic diversification. The future focus for Sands China is on the curation of globally significant events to maximize impact and long-term value. Crucially, such events generate a broader spillover effect across the city's economy, benefitting a wider scope of industries. Flagship entertainment and sports events are also identified as powerful brand amplifiers for the city. In particular, The NBA China Games in October 2025 marked a significant milestone. It generated approximately 3 billion online impressions on social media platforms across the Chinese mainland and significantly enhanced Macao's visibility within global sports and entertainment networks. Around the event, Sands China curated around 100 extended activities and initiatives, including NBA House, the Impact Week community event, fan engagement, and Macao's first NBA flagship store, ensuring the impact extended beyond the arena into the wider community. The significance of sustainable diversification lies not only in tourism benefits, but also in creating meaningful and lasting contributions to the local community. By extending the synergy from large-scale events, Sands China has endeavoured to promote community care, bolstering volunteer service, fostering the development of Macao's arts and culture, empowering SMEs, and advancing community revitalization – ensuring tourism growth drives broader participation and shared benefits across society. Sands China reaffirms its unwavering confidence in Macao's future and pledges to continue investing in high-quality non-gaming projects, working closely with the government, industry and Macao community to further facilitate the city's development as a World Centre of Tourism and Leisure. About Sands China Ltd. Sands China Ltd. (Sands China or the Company) is incorporated in the Cayman Islands with limited liability and is listed on The Stock Exchange of Hong Kong Limited (HKEx: 1928). Sands China is the largest operator of integrated resorts in Macao. The Company's integrated resorts on the Cotai Strip comprise The Venetian® Macao, The Plaza® Macao, The Parisian® Macao and The Londoner® Macao. The Company also owns and operates Sands® Macao on the Macao peninsula. The Company's portfolio features a diversified mix of leisure and business attractions and transportation operations, including large meeting and convention facilities; a wide range of restaurants; shopping malls; world-class entertainment at The Venetian Arena, The Londoner Arena, The Venetian Theatre, The Parisian Theatre, The Londoner Theatre and Sands Theatre; and a high-speed Cotai Water Jet ferry service between Hong Kong and Macao. The Company's Cotai Strip portfolio has the goal of contributing to Macao's transformation into a world centre of tourism and leisure. Sands China is a subsidiary of global resort developer Las Vegas Sands Corp. (NYSE: LVS). For more information, please visit www.sandschina.com. Media contacts: Corporate Communications, Sands China Ltd. Mabel Wu Tel: +853 8118 2268 Email: [email protected] Jesse Chiang Tel: +853 8118 2054 Email: [email protected] At G2E Asia 2026 on Tuesday, Grant Chum, chief executive officer and executive director of Sands China Ltd., delivers a keynote address to 200 industry leaders and tourism stakeholders from across the region. The keynote shed light on insights to Macao’s integrated tourism development and pathways to its citywide diversification. Following his keynote address at G2E Asia 2026, Chum (centre) gathers with Bill Miller (left), president and CEO of the American Gaming Association, and J.B. Son (right), senior vice president of Reed Exhibitions, Asia Pacific.
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【EHA2026】亞盛醫藥17項臨床進展入選2026年歐洲血液學協會年會
美國馬里蘭州羅克維爾市和中國蘇州2026年5月13日 /美通社/ -- 致力於在腫瘤等領域開發創新藥物的領先的生物醫藥企業——亞盛醫藥(納斯達克代碼:AAPG;香港聯交所代碼:6855)宣佈,公司核心產品的17項臨床進展將在2026年歐洲血液學協會(EHA)年會上公佈,涉及公司原創1類新藥、中國首個上市的第三代BCR-ABL抑制劑奧雷巴替尼(商品名:耐立克®;研發代號:HQP1351),以及公司原創1類新藥、中國首個上市的國產原創Bcl-2選擇性抑制劑利沙托克拉(商品名:利生妥®;研發代號:APG-2575)。其中包括8項壁報展示。該會議將於6月11日至14日在瑞典斯德哥爾摩舉行。 作為全球血液領域極具權威性與影響力的頂尖學術盛會,EHA年會匯聚全球血液學領域專業人士,分享全球最前沿的研究進展和突破性臨床數據。 入選壁報展示的主要摘要信息包括: UPDATED EFFICACY AND SAFETY OF OLVEREMBATINIB (HQP1351) AS SECOND-LINE THERAPY IN PATIENTS WITH CHRONIC-PHASE CHRONIC MYELOID LEUKEMIA (CP-CML) 奧雷巴替尼(HQP1351)作為慢性期慢性髓細胞白血病(CP-CML)二線治療的最新療效與安全性 - 摘要編號:PS1733
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6月13日 週六 晚上18:45-19:45(中歐夏令時) 6月14日 週日 凌晨00:45 - 01:45(北京時間) - 第一作者:黎緯明教授,華中科技大學同濟醫學院附屬協和醫院血液科
EFFICACY OF OLVEREMBATINIB IN PATIENTS WITH CHRONIC-PHASE CHRONIC MYELOID LEUKEMIA (CP-CML) WITH PRIOR RESISTANCE TO PONATINIB OR ASCIMINIB AND ASXL1 MUTATIONS 奧雷巴替尼治療既往對泊那替尼或阿思尼布耐藥且攜帶ASXL1基因突變的慢性期慢性髓細胞白血病(CP-CML)患者的療效 - 摘要編號:PS1727
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6月13日 週六 晚上18:45-19:45(中歐夏令時) 6月14日 週日 凌晨00:45 - 01:45(北京時間) - 第一作者:Elias Jabbour, MD,美國德克薩斯大學MD安德森癌症中心白血病科
UPDATED RESULTS OF POLARIS-1 (PART 1), A GLOBAL REGISTRATIONAL PHASE 3 STUDY: OLVEREMBATINIB COMBINED WITH LOW-INTENSITY CHEMOTHERAPY IN NEWLY DIAGNOSED PH+ ALL POLARIS-1研究(第一部分)最新結果:奧雷巴替尼聯合低強度化療治療新診斷費城染色體陽性急性淋巴細胞白血病(Ph+ ALL)的全球註冊III期臨床研究 - 摘要編號:PS1479
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6月13日 週六 晚上18:45-19:45(中歐夏令時 6月14日 週日 凌晨00:45 - 01:45(北京時間) - 第一作者:陳蘇寧教授,蘇州大學附屬第一醫院
CORRELATION OF BASELINE CHARACTERISTICS WITH PROGNOSIS IN PATIENTS WITH CHRONIC LYMPHOCYTIC LEUKEMIA/SMALL LYMPHOCYTIC LYMPHOMA (CLL/SLL) TREATED WITH LISAFTOCLAX (APG-2575) IN A PIVOTAL PHASE 2 STUDY 一項關鍵II期臨床研究中利沙托克拉(APG-2575)治療的慢性淋巴細胞白血病/小淋巴細胞淋巴瘤(CLL/SLL)患者基線特徵與預後的相關性 - 摘要編號:PS1713
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6月13日 週六 晚上18:45-19:45(中歐夏令時) 6月14日 週日 凌晨00:45 - 01:45(北京時間) - 第一作者:周可樹教授,河南省腫瘤醫院
SAFETY AND PRELIMINARY EFFICACY OF OLVEREMBATINIB (HQP1351) COMBINED WITH LISAFTOCLAX (APG-2575) IN PEDIATRIC PATIENTS WITH RELAPSED/REFRACTORY (R/R PH+ ALL): RESULTS OF A PHASE 1B STUDY 一項1B期臨床研究結果:奧雷巴替尼(HQP1351)聯合利沙托克拉(APG-2575)治療復發/難治性(R/R)費城染色體陽性急性淋巴細胞白血病(Ph+ ALL)兒童患者的安全性與初步療效 - 摘要編號:PS1473
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6月13日 週六 晚上18:45-19:45(中歐夏令時) 6月14日 週日 凌晨00:45 - 01:45(北京時間) - 第一作者:章婧嫽 中國醫學科學院血液病醫院(中國醫學科學院血液學研究所)
全部摘要信息(含壁報展示和在線發佈)請查詢EHA官網。 關於亞盛醫藥 亞盛醫藥(納斯達克代碼:AAPG;香港聯交所代碼:6855)是一家綜合性的全球生物醫藥企業,致力於研發、生產和商業化創新藥,以解決腫瘤領域全球患者尚未滿足的臨床需求。公司已建立豐富的創新藥產品管線,包括抑制Bcl-2和 MDM2-p53 等細胞凋亡通路關鍵蛋白的抑制劑、新一代針對癌症治療中出現的激酶突變體的抑制劑以及蛋白降解劑。 公司核心品種耐立克®是中國首個獲批上市的第三代BCR-ABL抑制劑,已獲批用於治療伴有T315I突變的慢性髓細胞白血病慢性期(CML-CP)和加速期(CML-AP)患者,以及對一代和二代TKI耐藥和/或不耐受的CML-CP成年患者。該藥物所有獲批適應症均已被納入中國國家醫保藥品目錄(NRDL)。目前,亞盛醫藥正在開展耐立克®三項全球註冊III期臨床研究,分別為:獲美國FDA和歐洲EMA許可的評估耐立克®治療新診斷費城染色體陽性急性淋巴細胞白血病(Ph+ ALL)患者POLARIS-1研究;獲美國FDA和歐洲EMA許可的評估耐立克®治療經治CML-CP成年患者的POLARIS-2研究;評估耐立克®治療SDH-缺陷型GIST患者的POLARIS-3研究。 公司另一重磅品種利生妥®是一款用於治療多種血液系統惡性腫瘤的新型Bcl-2抑制劑。利生妥®已獲中國國家藥品監督管理局(NMPA)批准,用於治療既往至少接受過一種包括布魯頓酪氨酸激酶(BTK)抑制劑在內的系統治療的成人慢性淋巴細胞白血病/小淋巴細胞淋巴瘤(CLL/SLL)患者。目前,亞盛醫藥正在開展利生妥®四項全球註冊III期臨床研究,分別為:獲美國FDA和歐洲MEA許可的評估利生妥®聯合BTK抑制劑治療既往接受BTK抑制劑治療超過12個月且應答不佳的CLL/SLL患者的GLORA研究;評估利生妥®一線治療初治CLL/SLL患者的GLORA-2研究;評估利生妥®一線治療新診斷老年或不耐受的AML患者的GLORA-3研究;以及獲美國FDA和歐洲EMA許可的評估利生妥®一線治療新診斷中高危MDS患者的GLORA-4研究。 憑借強大的研發能力,亞盛醫藥已在全球範圍內進行知識產權佈局,並與武田、阿斯利康、默沙東、輝瑞、信達等眾多領先的生物製藥公司達成全球合作,同時與丹娜法伯癌症研究院、梅奧醫學中心、美國國家癌症研究所和密西根大學等學術機構建立研發合作關係。如需瞭解更多信息,請訪問 https://ascentage.com/ 前瞻性聲明 本新聞稿包含根據美國《1995年私人證券訴訟改革法案》,以及經修訂的《1933年證券法》第27A條和《1934年證券交易法》第21E條所界定的前瞻性陳述。除歷史事實陳述外,本新聞稿中的所有內容均可能構成前瞻性陳述,包括亞盛醫藥對未來事件、經營成果或財務狀況所發表的意見、預期、信念、計劃、目標、假設或預測。 這些前瞻性陳述受到諸多風險和不確定性的影響,具體內容已在亞盛醫藥向美國證券交易委員會(SEC)提交的文件中詳細說明,包括2025年1月21日提交的經修訂的F-1表格註冊說明書和2025年4月16日提交的20-F表格中的「風險因素」和「關於前瞻性聲明的警示聲明」章節、2019年10月16日提交的首次發行上市招股書中的「前瞻性聲明」、「風險因素」章節,以及我們不時向SEC或HKEX提交的其他文件。這些因素可能導致實際業績、運營水平、經營成果或成就與前瞻性陳述中明示或暗示的信息存在重大差異。本前瞻性聲明中的陳述不構成公司管理層的利潤預測。 因此,該等前瞻性陳述不應被視為對未來事件的預測。本新聞稿中的前瞻性陳述僅基於亞盛醫藥當前對未來發展及其潛在影響的預期和判斷,且僅代表截至陳述發表之日的觀點。無論出現新信息、未來事件或其他情況,亞盛醫藥均無義務更新或修訂任何前瞻性陳述。
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NVIDIA Jensen Huang Boards Air Force One in Alaska to Accompany Trump on China Visit: Sources
NVIDIA Corporation (NVDA.US) CEO Jensen Huang boarded Air Force One in Alaska, joining more than a dozen US corporate CEOs to participate in US President Donald Trump's visit to China this week, foreign media reported, citing people with the knowledge of the matter.
Huang did not appear on a preliminary list of senior attendees previously provided by the White House. A US official said last month that NVIDIA's high-performance H200 chips have not yet been sold to China owing to difficulties in obtaining approval from the Chinese government. The White House has not responded to the matter. ~
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| 08:00 |
Kelun-Biotech Receives Investigational New Drug Approval from CDE for SKB118, a PD-1 x VEGF Bispecific Antibody
CHENGDU, China, May 12, 2026 /PRNewswire/ -- Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. ("Kelun-Biotech" or the "Company", 6990.HK) announced that it has received a clinical trial notice from the Center for Drug Evaluation (CDE) of the National Medical Products Administration (NMPA) approving the Investigational New Drug (IND) application for PD-1 x VEGF bispecific antibody SKB118 (also known as CR-001) for the treatment of advanced solid tumors. In December 2025, Kelun-Biotech and Crescent Biopharma ("Crescent") entered into a strategic collaboration for SKB118/CR-001. Under the collaboration, Crescent granted Kelun-Biotech exclusive rights to research, develop, manufacture and commercialize SKB118/CR-001 in Greater China (including Mainland China, Hong Kong, Macau, and Taiwan). In January 2026, Crescent announced the regulatory clearance of the IND application for SKB118/CR-001 by the U.S. Food and Drug Administration (FDA) to initiate its global ASCEND Phase I/II clinical trial (NCT07335497) for the treatment of locally advanced or metastatic solid tumors. The trial is ongoing and expected to initially enroll up to 290 patients. Dr. Michael Ge, CEO of Kelun-Biotech, stated: "We are pleased to see the approval of the IND application for SKB118 in China, which marks the simultaneous advancement of clinical development in China and globally. Since entering into the collaboration with Crescent, we have worked closely and leveraged complementary advantages with each other to efficiently drive the R&D of the collaborative product candidates. Based on our ADC+IO strategies, we will actively explore the potential of combining SKB118 with our proprietary ADC assets to unlock the synergistic value of our portfolio and expand more treatment possibilities for cancer patients." About SKB118 (also known as CR-001) SKB118 is a tetravalent bispecific antibody being developed for the treatment of solid tumors that combines two complementary, validated mechanisms in oncology via a blockade of PD-1 and VEGF. PD-1 checkpoint inhibition is aimed at restoring T cells' ability to recognize and destroy tumor cells, and blocking VEGF is intended to reduce blood supply to tumor cells and to inhibit tumor growth. In preclinical studies, SKB118 demonstrated cooperative pharmacology with increased binding to PD-1 and signal blockade in the presence of VEGF as well as robust anti-tumor activity. SKB118's anti-VEGF activity may also normalize the vasculature at the tumor site, which has the potential to improve the localization and effectiveness of combination therapies, such as in combination with antibody-drug conjugates (ADCs). About Kelun-Biotech Kelun-Biotech (6990.HK) is a holding subsidiary of Kelun Pharmaceutical, which focuses on the R&D, manufacturing, commercialization and global collaboration of innovative biological drugs and small molecule drugs. Kelun-Biotech focuses on major disease areas such as solid tumors, autoimmune, and metabolic diseases, and in establishing a globalized drug development and industrialization platform to address the unmet medical needs in China and the rest of world. Kelun-Biotech is committed to becoming a leading global enterprise in the field of innovative drugs. At present, Kelun-Biotech has more than 30 ongoing key innovative drug projects, of which 4 projects with 8 indications have been approved for marketing, 1 project is in the NDA stage and more than 10 projects are in the clinical stage. Kelun-Biotech has established one of the world's leading proprietary ADC and novel DC platforms, OptiDC™, and has 2 ADC projects with 5 indications approved for marketing, and multiple ADC and novel DC assets in clinical or preclinical research stage. For more information, please visit https://en.kelun-biotech.com/
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