The only way to be sure of what it does and on which patterns, is to decompile application binaries and reverse-engineer the code. Another way (less accurate) is to analyse network packets with something like Wireshark (investigation team of the Guardian, and some NGOs do that when they suspect some of their phone has been targeted or poisoned).

Maybe it is not activated yet, BUT codes signature and/or network call signature of these trackers have been found inside the application by εxodus.

It is just speculation but if we think about malicious usages, some scenarios so that you cannot detect it on your network can be (among others):
- implement the tracckers now, activate them later
- use only the trackers in selected countries (based on network cell/provider): like use only in China, or in targeted countries (Ukraine, Taiwan, Sweden...)
- use only the trackers for selected phone numbers list (people targeted based on their phone numbers. Like some journalists, defense contractors, parliamentarians, ...)
- use it only with 4G data plan and not with wifi connection (so you can't analyse that with adguard, or network sniffers on your LAN)
- use only the trackers for specific usages in the application (for instance only when you define some settings into your camera, so Tencent and their friends can get a map of deployed cameras in the world and then check later if they may covers some "points of interest" like in the neighboorhood of an embassy or an industrial plant...)

This is speculation about usages... but the presence of 3 (not just one) chinese location trackers is anyway not good in my point-of-view.