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2026-08-31 14:15:31 Citi published a report stating that TENCENT (00700.HK) released its Hy4 Preview model last Friday (28th), slightly earlier than the broker's original expectation of September. Although its total parameter count of 770 billion and activated parameter count of 49 billion appear smaller than several peer models, both figures are more than double the 295 billion and 21 billion of the Hy3 model, while recording significant ranking improvements in coding and intelligence benchmark tests. Despite the relatively smaller model size, Hy4 Preview's benchmark rankings are already comparable to or even better than peers, particularly demonstrating outstanding performance in tests including Toolathlon-Verified, PostTrainBench, BioMysteryBench and HorizonMath. As Hy4 Preview has achieved deeper coordination and co-design with CodeBuddy and WorkBuddy, the broker believes Hy4 has further enhanced its task completion capabilities in real-world workplace productivity scenarios. The broker expected that after the official release of Hy4 in the coming months, it will further improve Hy4's usability and practicality within the TENCENT ecosystem as well as external enterprise workplace productivity environments. It reiterated the "Buy" rating on TENCENT with a TP of HKD765. (ha/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |