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Northbound capital trend | Northbound capital's net buy of 2.278 billion, double winners of wafer foundry performance, received additional buying. Telecommunication sector stocks collectively experienced sell-offs by domestic institutional investors.
On August 9th, the Hong Kong stock market had a net buy of 2.278 billion Hong Kong dollars in Northbound trading. Among them, the net buy of Hong Kong Connect (Shanghai) was 1.329 billion Hong Kong dollars, and the net buy of Hong Kong Connect (Shenzhen) was 0.949 billion Hong Kong dollars.
Brokerage tianfeng maintains a "buy" rating on Tencent Holdings (00700), and expects game growth to repair, which will help improve valuation constraints.
According to the research reports from Tianfeng Securities, it is expected that Tencent (00700) will continue to see improved income growth and profitability. The bank predicts that Tencent's income in 2Q2024 will be around 161.9 billion yuan, a year-on-year increase of 8%, with growth recovering from 1Q2024. Game growth is beginning to recover, while advertising continues to maintain high year-on-year growth, and FBS revenue growth has slowed down on a quarter-to-quarter basis. The bank predicts that the company's Non-IFRS net income attributable to equity shareholders will be approximately 51.1 billion yuan in 2Q2024, a year-on-year increase of 36%; Non-IFRS net income attributable to equity shareholders ratio is approximately 31.6%, an increase of 6.4% compared to the same period last year, with a slight increase of 0.1 on a quarter-to-quarter basis.
Bocom Intl: Top new games continue to drive the mobile gaming market, bullish on Tencent's (00700) accelerating growth in mobile gaming revenue.
Taking into account the increase in new game volume and the competition in categories such as second dimension, it is expected that the mainland China's mobile game revenue growth in the second half of the year will maintain high single-digit yoy growth, with the third quarter potentially slowing to single digits.
Tencent's Successful Launch of DnF Mobile Could Bode Well for Earnings -- Market Talk
Bocom intl: Maintains a 'Buy' rating on Tencent Holdings with a target price of HKD 457.
Bocom intl released a research report stating that it maintains a "buy" rating on Tencent (00700), based on strong performance of new games, with a 2% increase in game revenue forecasted for 2024. Mobile game revenue is expected to increase by 11% year-on-year, while revenue of PC games may decrease by 4% year-on-year due to the high base effect of "DnF", and advertising growth is expected to remain at 16% for the full year. Considering the possibility of increased short-term marketing investment in new games, the basic expectation of profit for the second quarter of 2024 and the full year has been maintained, with a target price of HKD 457. The main points of Bocom intl's opinion are as follows: recent growth in mobile game revenue: local and overseas growth rates have both accelerated. 1) Local market: mobile game revenue in the second quarter of 2024 is expected to increase by 31% year-on-year (
Bocom Intl maintains a "buy" rating on Tencent (00700) with a target price of HKD 457.
Bocom intl estimates that mobile game revenue will increase by 11% YoY in 2024, while PC game revenue may decrease by 4% due to the high base of 'DnF', and advertising revenue is expected to maintain a growth rate of 16% throughout the year.
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ZnWC : China has emerged as the world’s top producer of generative AI patents, but it is struggling to turn many of its ideas into action thanks to US export controls and longstanding struggles with its innovation culture at home.
Source:
China wrestles with ‘quantity over quality’ in generative AI patents | Technology - Al Jazeera
ZnWC : Despite the lower overall number of patents, US developers have a clear lead. Stanford University’s 2024 AI Index named the US as the undisputed home of the most “notable AI models” to date, producing 61, compared with 21 from the European Union and 15 from China.