Weekly digest (July 6) - AI, online games, and more

研报英文原文证据摘录

Weekly digest (July 6) - AI, online games, and more

Deutsche Bank

Research

Asia Industry Date

China 6 July 2026

China Internet

Technology Periodical

Software & Services

Weekly digest (July 6) - AI, online

games, and more

Leo Chiang, CFA

Key takeaways from this week's news Research Analyst

Last week saw several positive developments, collectively improving investor +852-220-36240

sentiment and driving a sector rebound. These included Baidu’s Kunlunxin IPO

news, Kuaishou’s Kling financing, and Meituan’s message regarding its share

buybacks plan during its annual general meeting. Despite this, sector valuation

remains relatively low, with the upcoming earnings season potentially serving as a

catalyst in the coming month. In AI, we remain positive on chip developers. Within

the gaming sector, major developers are launching new games to capture the

summer peak season. NetEase's "Sea of Remnants", a particularly anticipated title,

is expected to launch its PC public test on July 9th.

Weekly news - AI

2 Jul 2026 – Kuaishou's Kling AI closes ~USD 3bn round at USD 18bn valuation

Kuaishou announced its video generation model subsidiary Kling AI completed a

nearly USD3bn fundraising round at USD18bn post-money valuation, co-led by

CPE, Guofang Capital, BlueFive, Tencent, CITIC Securities, and Zhongguancun

Science City Fund, with dozens of institutions participating. The investor lineup

spans three internet majors (Tencent, Alibaba Cloud, Baidu), state-owned industry

funds across Beijing, Shanghai, Shenzhen, and Chongqing, and entertainment-

sector investors including Huace Film & TV and Mango's industry fund. The round

marks the largest single fundraising for a multimodal AI company globally and

signals the formal commencement of Kling AI's independent commercialization.