China mobile app data for May: AI and short-video leaders widen their advantage, while traditional entertainment and travel engagement face pressure

Overview

This report is BofA's monthly review of China internet mobile app performance in May 2026, using QuestMobile data to track DAU, total usage time, per-user usage time, and session counts across AI, social, digital entertainment, e-commerce, local services, and vertical service apps. The overall conclusion is that user engagement continues to concentrate in leading and emerging high-growth apps, with strong performance from AI chatbots, short video, short dramas, and some games, while traditional long-form video, search, travel, and some traditional music apps are under pressure.

Core views

The core views include: first, in the AI chatbot segment, Doubao maintained rapid growth and expanded its lead, while DeepSeek still posted relatively high per-user usage time; second, engagement on transaction platforms was fairly steady, with Taobao recovering in May, PDD maintaining an advantage in usage time, and JD showing relative resilience; third, social and digital entertainment continued to diverge, with strong performance from Douyin, Bilibili, Red Fruit, Soda Music, and Delta Force, while long-form video and some traditional music apps under TME weakened YoY; fourth, vertical segments were generally stable, but travel, search, and some auto content platforms showed weaker performance.

Analysis framework

The report uses mobile app behavioral data as its main framework, comparing DAU and total usage time across apps, and combining YoY changes, MoM recovery, per-user daily usage time, and session counts to assess user engagement, platform share shifts, and potential commercial momentum.

Methodology notes

• User engagement analysisQuestMobile Mobile App Radar

  DAU, total usage time, per-user daily usage time, and session counts

  The report uses QuestMobile mobile app data to measure user scale and depth of usage, which is suitable for observing traffic share changes, but cannot be directly equated with changes in revenue, profit, or valuation.

Asset mapping & comparison

Structured mapping from thesis to named assets (strengths, weaknesses, peers, risks).

• ByteDance

  Its Doubao, Douyin, Soda Music, and Red Fruit are all key growth apps highlighted in the report

  Strengths

  User engagement growth is notable across multiple product lines including AI, short video, short drama, and music, with Doubao and Douyin extending their lead.

  Weaknesses

  The report does not provide revenue, profit, or valuation data, so the transmission from app growth to financial performance still needs verification.

  Comparison

  Compared with DeepSeek, Tencent Yuanbao, and Alibaba Qwen, Doubao is clearly ahead in weekly DAU and total usage time; Red Fruit's total usage time exceeded Kuaishou's main app.

  Risks

  Risks from regulation, competition, monetization efficiency, content costs, and slowing user growth.

• Tencent

  Includes apps such as Yuanbao, Weixin, Honor of Kings, Peacekeeper Elite, and Tencent Video

  Strengths

  Weixin DAU and total usage time remain at massive scale, engagement in core evergreen games is stable, and Honor of Kings posted YoY growth.

  Weaknesses

  Yuanbao lags Doubao in AI scale; Tencent Video's usage time fell 31% YoY.

  Comparison

  Strong in social and gaming fundamentals, but weaker than leaders in AI chatbots and long-form video.

  Risks

  Competition for AI entry points, long-form video share loss, and game product cycle risk.

• Alibaba

  Includes apps such as Qwen, Taobao, Amap, and Fliggy

  Strengths

  Taobao's DAU and total usage time recovered in May, while Amap maintained a large DAU scale.

  Weaknesses

  Qwen's total usage time is below Doubao and DeepSeek; Fliggy's DAU and usage time declined YoY.

  Comparison

  Taobao engagement recovered, but PDD still maintained a usage-time advantage.

  Risks

  E-commerce competition, insufficient AI product stickiness, and weak recovery in travel demand.

• PDD

  Comparison target for e-commerce platform engagement

  Strengths

  May DAU and total usage time increased YoY, with usage time ahead of Taobao and JD.

  Weaknesses

  The report does not disclose order volume, GMV, or margin data.

  Comparison

  Ahead of Taobao and JD in total usage time.

  Risks

  E-commerce competition, user subsidies, regulation, and monetization quality risk.

• JD.com

  Comparison target for e-commerce platform engagement; the disclosure also mentions BofA acting as advisor on JD.com's potential acquisition of Ceconomy AG

  Strengths

  The report considers JD relatively resilient.

  Weaknesses

  May DAU and total usage time declined 3% and 10% YoY, respectively.

  Comparison

  Scale and usage time are below Taobao and PDD.

  Risks

  E-commerce traffic pressure, intensifying competition, and the need to monitor research conflict-of-interest disclosures arising from investment banking relationships.

• Kuaishou

  Competitive reference in short video and short drama

  Strengths

  DAU of the main app was relatively stable.

  Weaknesses

  Total usage time fell 11% YoY in May and was surpassed by Red Fruit.

  Comparison

  Compared with Douyin and Red Fruit, growth in user engagement lagged significantly.

  Risks

  Share loss in short drama and short video, content ecosystem competition, and pressure on advertising monetization.

Key data

• Doubao AI appWeekly DAU 163.7 million; weekly total usage time 12.3 billion minutesAs of the week ending June 1, 2026, Doubao was near a new high and widened its lead over peers.
• DeepSeek AI appWeekly DAU 32.2 million; weekly total usage time 3.8 billion minutes; per-user daily 17 minutes / 8 sessionsDeepSeek is smaller than Doubao in scale, but its per-user usage time is relatively high.
• TaobaoMay DAU 417 million, +1% YoY; total usage time 280 billion minutes, +7% YoYThe report believes Taobao user engagement recovered in May.
• PDDMay DAU 403 million, +8% YoY; total usage time 342 billion minutes, +13% YoYPDD maintained a clear usage-time advantage among e-commerce platforms.
• JDMay DAU 165 million, -3% YoY; total usage time 98 billion minutes, -10% YoYThe report says JD was relatively resilient, but user scale and usage time still declined YoY.
• DouyinMay DAU 703 million, +21% YoY; total usage time 2.8 trillion minutes, +28% YoYThe short-video leader continued to gain user engagement share.
• Red FruitMay DAU 147 million, +110% YoY; total usage time 60.1 billion minutes, +134% YoYThe short-drama app posted strong growth, with total usage time exceeding Kuaishou's main app for the first time.
• BilibiliMay DAU 72 million, +4% YoY; total usage time 25.1 billion minutes, +10% YoYThe report believes Bilibili delivered healthy growth in usage time.
• Delta ForceMay DAU 32 million; total usage time 12.6 billion minutes, about +143%/+141% YoYUser accumulation was significant after launch, driving improved gaming engagement.
• Trip.comMay DAU 13 million, -9% YoY; total usage time 2.6 billion minutes, -19% YoYUsage time recovery in travel apps after the Chinese New Year was weaker than seasonality would suggest.
• Baidu SearchMay DAU 174 million, -21% YoY; total usage time 225 billion minutes, -21% YoYEngagement in search apps continued to weaken.

Impact & implications

From an investment perspective, the report supports continued attention to China internet assets with expanding user scale and rising usage time, especially AI entry points, short video/short drama, gaming, and leading transaction platforms; at the same time, caution is warranted regarding traffic pressure on long-form video, traditional music, search, travel, and some vertical content platforms. As the report only provides app behavioral data, the financial impact still needs further validation through monetization efficiency, advertising, e-commerce conversion, membership revenue, and cost investment.

Risks

• App DAU and usage time are not equivalent to revenue, profit, or valuation, and financial transmission requires additional verification.
• The report shows YoY declines in engagement for long-form video, search, travel, some traditional music apps, and some auto content platforms, meaning related companies may face traffic and monetization pressure.
• Competition in AI apps is still at an early stage, and model upgrades, product iteration, and subsidy spending could rapidly change user share.
• BofA disclosed business relationships with some covered issuers and that it serves as advisor on a potential JD.com-related transaction, so investors should consider potential conflicts of interest.
• The report is based on third-party and public information, and data accuracy, methodology changes, and sample coverage could affect the conclusions.

What to watch

• Subsequent changes in weekly DAU, total usage time, and per-user usage time for Doubao, DeepSeek, Yuanbao, and Qwen.
• DAU, usage time, and conversion performance of Taobao, PDD, and JD after major promotional periods such as 618.
• Whether Red Fruit's short-drama usage time can continue to exceed Kuaishou's main app, and whether short dramas will further erode share from long-form video platforms.
• Whether Soda Music's growth can continue to catch up with TME's major music apps and ultimately translate into monetization capability.
• Whether usage time for travel apps recovers during the summer peak season, and whether the YoY trends of Trip.com, Tongcheng, and Fliggy improve.
• Whether the decline in Baidu Search engagement continues, and how AI search or changes in the content ecosystem affect search traffic.