CICC forecasts TENCENT's 2Q24 non-IFRS net profit to rise by 26% YoY to RMB47.2 billion, driven by a 6% revenue growth to RMB157.6 billion and a 19% increase in non-IFRS operating profit to RMB54.9 billion.
The game revenue is expected to grow by 4% YoY in 2Q24 and 6% YoY for 2024, thanks to a promising outlook for TENCENT's domestic and overseas game businesses, including subsidiaries Supercell and Riot Games.
CICC ma...
The game revenue is expected to grow by 4% YoY in 2Q24 and 6% YoY for 2024, thanks to a promising outlook for TENCENT's domestic and overseas game businesses, including subsidiaries Supercell and Riot Games.
CICC ma...
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Shanghai Aojue Digital Technology recently underwent industrial changes, where NUVERSE's Shanghai Mokun Digital Technology exited as a shareholder, and TENCENT’s Guangxi Tencent Venture Capital became the new and sole shareholder, also changing the company's key personnel.
Shanghai Aojue Digital Technology, established in January 2017, engages in value-added telecommunications, internet information services, and computer hardware/software wh...
Shanghai Aojue Digital Technology, established in January 2017, engages in value-added telecommunications, internet information services, and computer hardware/software wh...
TENCENT's mobile game "Dream Star" recovered to more than 12 million daily active users (DAUs) recently, after previously dropping to less than 10 million. At its peak during the Spring Festival, "Dream Star" surpassed NTES's "Egg Party" with over 50 million DAUs.
The development cost for "Dream Star" is estimated to be RMB800 million - RMB1 billion, with a team size of about 200-300 people, including members transferred from oth...
The development cost for "Dream Star" is estimated to be RMB800 million - RMB1 billion, with a team size of about 200-300 people, including members transferred from oth...
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There was HKD1.4 billion, HKD241.2 million and HKD177.3 million Southbound Trading net inflow to $TENCENT(00700.HK$ , $XIAOMI-W(01810.HK$ and $CNOOC(00883.HK$ .
There was HKD583.1 million, HKD127.3 million and HKD21.6 million Southbound Trading net outflow from $TRACKER FUND OF HONG KONG(02800.HK$ , $MEITUAN-W(03690.HK$ and $SMIC(00981.HK$ .
For $SH->HK Connect(GangGuTong.HK$ , $TENCENT(00700.HK$ was the most active ...
There was HKD583.1 million, HKD127.3 million and HKD21.6 million Southbound Trading net outflow from $TRACKER FUND OF HONG KONG(02800.HK$ , $MEITUAN-W(03690.HK$ and $SMIC(00981.HK$ .
For $SH->HK Connect(GangGuTong.HK$ , $TENCENT(00700.HK$ was the most active ...
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BofA Securities expects TENCENT's growth to shift to its game and advertising businesses to offset a slowdown in fintech.
For 2Q24, they forecast a 7% YoY revenue increase to RMB159.5 billion and raised their adjusted net profit forecast to a 27% YoY growth.
The broker also anticipates a 16% YoY increase in advertising revenue and an 8% YoY growth in game revenue.
BofA Securities maintains a Buy rating for TENCENT with a target price of $4...
For 2Q24, they forecast a 7% YoY revenue increase to RMB159.5 billion and raised their adjusted net profit forecast to a 27% YoY growth.
The broker also anticipates a 16% YoY increase in advertising revenue and an 8% YoY growth in game revenue.
BofA Securities maintains a Buy rating for TENCENT with a target price of $4...
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There was HKD1.2 billion and HKD33.8 million Southbound Trading net inflow to $TENCENT(00700.HK$ and $XIAOMI-W(01810.HK$ .
There was HKD1.2 billion, HKD321.5 million and HKD176.7 million Southbound Trading net outflow from $TRACKER FUND OF HONG KONG(02800.HK$ , $CNOOC(00883.HK$ and $CHINA MOBILE(00941.HK$ .
For $SH->HK Connect(GangGuTong.HK$ , $TENCENT(00700.HK$ was the most active stock with highest net inflow of HKD1 billio...
There was HKD1.2 billion, HKD321.5 million and HKD176.7 million Southbound Trading net outflow from $TRACKER FUND OF HONG KONG(02800.HK$ , $CNOOC(00883.HK$ and $CHINA MOBILE(00941.HK$ .
For $SH->HK Connect(GangGuTong.HK$ , $TENCENT(00700.HK$ was the most active stock with highest net inflow of HKD1 billio...
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There was HKD1.3 billion, HKD439.2 million and HKD311.1 million Southbound Trading net inflow to $TENCENT(00700.HK$ , $CHINA MOBILE(00941.HK$ and $PING AN(02318.HK$ .
For $SH->HK Connect(GangGuTong.HK$ , $TENCENT(00700.HK$ was the most active stock with highest net inflow of HKD600.6 million, while $CNOOC(00883.HK$ was the most active stock with highest net outflow of HKD171.4 million.
For $SZ->HK Connect(LIST1922.HK$ , ...
For $SH->HK Connect(GangGuTong.HK$ , $TENCENT(00700.HK$ was the most active stock with highest net inflow of HKD600.6 million, while $CNOOC(00883.HK$ was the most active stock with highest net outflow of HKD171.4 million.
For $SZ->HK Connect(LIST1922.HK$ , ...
Growth Engine Shift:
New Focus: Tencent is expected to shift its growth engine to its game and advertising businesses.
Reason: This shift is aimed to offset the slowdown in its fintech business.
Q2 2024 Projections:
Revenue Forecast: Slightly lowered to RMB 159.5 billion, reflecting a 7% year-over-year (YoY) increase.
Adjusted Net Profit: Raised to a 27% YoY growth, up from the previous estimate of 24%.
Specific Segments:
Advertising Rev...
New Focus: Tencent is expected to shift its growth engine to its game and advertising businesses.
Reason: This shift is aimed to offset the slowdown in its fintech business.
Q2 2024 Projections:
Revenue Forecast: Slightly lowered to RMB 159.5 billion, reflecting a 7% year-over-year (YoY) increase.
Adjusted Net Profit: Raised to a 27% YoY growth, up from the previous estimate of 24%.
Specific Segments:
Advertising Rev...
$TENCENT(00700.HK$ disclosed in a statement that it repurchased 2.61 million shares on the Stock Exchange at a price of $378.4-$385.6 per share yesterday (11 July), involving a total amount of about $1 billion.
Since the ordinary resolution was passed, a total of 98.99 million shares have been repurchased, representing around 1.05% of the company's share capital.
$Tencent(TCEHY.US$ $Hang Seng TECH Index(800700.HK$ $China Concept Stocks(LIST2517.US$
Since the ordinary resolution was passed, a total of 98.99 million shares have been repurchased, representing around 1.05% of the company's share capital.
$Tencent(TCEHY.US$ $Hang Seng TECH Index(800700.HK$ $China Concept Stocks(LIST2517.US$
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There was HKD296.6 million, HKD144.9 million and HKD129.2 million Southbound Trading net inflow to $MEITUAN-W(03690.HK$ , $CHINA MOBILE(00941.HK$ and $XIAOMI-W(01810.HK$ .
There was HKD529.9 million, HKD262 million and HKD143 million Southbound Trading net outflow from $TENCENT(00700.HK$ , $XPENG-W(09868.HK$ and $CNOOC(00883.HK$ .
For $SH->HK Connect(GangGuTong.HK$ , $CHINA MOBILE(00941.HK$ was the most ac...
There was HKD529.9 million, HKD262 million and HKD143 million Southbound Trading net outflow from $TENCENT(00700.HK$ , $XPENG-W(09868.HK$ and $CNOOC(00883.HK$ .
For $SH->HK Connect(GangGuTong.HK$ , $CHINA MOBILE(00941.HK$ was the most ac...
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