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CXMT Topples TENCENT to Become CN Most Valuable Listed Company
2026-08-13 16:50:16 CXMT (688825.SH) has become China's most valuable listed company after its total market cap crossed that of TENCENT (00700.HK) for the first time, just over two weeks after listing on the STAR Market. Since its listing, CXMT has skyrocketed more than 500% cumulatively, with its total market cap touching approximately RMB3.54 trillion. As for TENCENT, after announcing its quarterly results today (13th), its share price closed down 4.46% at HKD441, as the market was concerned that the group's substantial increase in AI investment could weigh on profitability and cash flow performance. The group's latest market cap dropped to approximately RMB3.44 trillion. Gary Tan, portfolio manager at Allspring Global Investments, said CXMT overtaking TENCENT sends a message to the market that chips are replacing clicks. As agentic AI occupies an increasingly larger share of internet traffic, the gap between the two companies is expected to widen. ~ AASTOCKS Financial News Website: www.aastocks.com | |