Tencent Holdings (00700.HK) reported revenue of RMB 194.37 billion in Q4 2025, compared to RMB 172.45 billion in the same period last year.

[Futures Hot Topic Tracking] Fuel prices surge while futures prices correct! Glass factories are mired in a "the more they produce, the more they lose" quagmire. Can cold repairs and reduced production reverse the supply and demand imbalance? Click to read.

Energy: 1. Trump invites biofuel producers to next week's event. 2. US government plans to ease sanctions on Venezuela to address soaring oil prices. 3. Sri Lankan President: Two oil tankers carrying 90,000 tons of crude oil will be unable to arrive on time. 4. Agency report: The proliferation of electric vehicles will reduce oil demand by 2.3 million barrels per day by 2025. 5. South Korea will import a total of 18 million barrels of crude oil from the UAE, with the UAE pledging to prioritize supplying it. 6. Zelensky: EU experts will be allowed into Ukraine to restore normal operation of the "Friendship" oil pipeline. 7. Iraqi Kirkuk crude oil has resumed transport through Turkey's Ceyhan port at a rate of 250,000 barrels per day. 8. Libya's Sharara oil field is gradually shutting down production after the pipeline explosion. Crude oil transport has been temporarily diverted to the Elfir oil field. 9. White House economic advisor Hassett: Concerned that Asia may be reducing oil exports to the US. Further release of oil reserves may be necessary. 10. German government official: The EU summit will discuss high energy prices; we are skeptical of price caps and market intervention. 11. Current energy situation in various countries: Thailand raises diesel prices and plans to reduce fuel taxes; Spain will release 11.5 million barrels of crude oil; Germany takes strong measures to curb high oil prices; South Korea restricts naphtha exports; Japan's average gasoline retail price hits a record high. Middle East situation: 1. 24-hour monitoring of the Strait of Hormuz shows that vessel traffic remains limited. 2. Iranian Foreign Minister: A new agreement on the Strait of Hormuz should be drafted by the littoral states after the war ends. 3. White House economic advisor Hassett: Oil tankers have begun passing through the Strait of Hormuz. The war with Iran will last for weeks, not months.