Tencent exits JD.com and Meituan stakes, focuses investment on AI

Tencent Holdings (0700) chairman Pony Ma Huateng said the company has exited its investments in JD.com (9618) and Meituan (3690), with Tencent president Martin Lau stepping down from board positions at the two companies.

Ma said "steady and prudent execution" remains one of the group's core strategies, adding that artificial intelligence is currently the only sector still worth continued investment.

Cynthia ZHONG