该行表示，预计公司24/25/26净利润(Non-IFRS)为2115.77/2373.04/2614.35亿元。前次预测值为2033.45/2199.46/2454.32亿元。公司具备社交生态的长期竞争优势，维持“买入”评级。Jinwu Financial News | According to Huaan Securities Research, Tencent (00700) 2Q24's total revenue was RMB 161.1 billion, up 8% year on year; gross profit was RMB 85.9 billion, up 21% year on year; non-IFRS operating profit was RMB 58.4 billion, up 27% year on year; and non-IFRS profit attributable to company shareholders was RMB 57.3 billion, up 53% year on year.
According to the bank, the company's international game revenue was RMB 13.9 billion, an increase of 9% over the previous year, mainly due to the rise in popularity of “PubgMobile” and Supercell games. Notably, the overall turnover of international games surpassed revenue growth; domestic games were RMB 34.6 billion, up 9% year on year, and revenue growth resumed, mainly driven by increased revenue for “VALORANT” and the successful release of the “Dungeons and Warriors” mobile game. The overall revenue growth rate of domestic games also surpassed the increase in revenue.
According to the bank, the company's social network revenue was RMB 30.3 billion, an increase of 2% over the previous year. This was mainly due to increased revenue from music and long video subscriptions, increased service fees for applet game platforms, and increased sales of app-based game virtual items, despite a decline in music and game-related live streaming revenue.
The bank said it expects the company's 24/25/26 net profit (non-IFRS) to be 211.577/237.304/261.435 billion yuan. The previous forecast was 203.345/219.946/245.432 billion yuan. The company has a long-term competitive advantage in the social ecosystem and maintains a “buy” rating.
