$TENCENT (00700.HK)$ Citigroup released a report saying that...
$TENCENT(00700.HK$ Citigroup released a report saying that the Game Developers Conference demonstrated Tencent (0700. HK) 's leading position in the industry and its commitment to use technological innovation to develop new games, maintaining its "buy" rating with a target price of HK $703.
According to the report, Tencent believes that technological breakthroughs in Unreal Engine 5 and VR are crucial to further enrich the game experience, because users demand higher quality design and diversified types.
The company is promoting the overseas expansion of ACG games in Japan and other markets. Last year, 40% of these new games in the market came from Chinese companies, compared with 20% in 2019.
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