[Brokerage Focus] Morgan Stanley reaffirms Tencent (00700) 'Shareholding' rating, expects WeChat gifting feature to drive e-commerce related revenue in the long term.
Jinwu Financial News | Morgan Stanley's research report indicates that Tencent's (00700) WeChat public e-commerce platform, WeChat Store, has launched a gray test for the "Gift Giving" feature, allowing users to purchase commodities worth less than 0.01 million yuan to give as gifts directly to WeChat friends. The gift-giving function resembles the form of WeChat red envelopes, which is believed to align with the development strategy of WeChat Store, that is, to utilize WeChat's ecosystem to build a unified and trustworthy e-commerce platform for users, providing indexed and standardized commodities. The firm expects that after the full launch of the new feature, it will attract more merchants to join WeChat Store, and in the long run, it will bring revenue from e-commerce related trades and advertisements.
Huachuang Securities: Maintains a "Recommended" rating for TENCENT with a Target Price of 546.6 HKD.
Hua Chuang Securities released a research report stating that it maintains a "Recommended" rating for TENCENT (00700), giving the company's 2024-2026 revenue expectations at 658.6/717.9/771.3 billion yuan, YOY +8%/9%/7%; NON-IFRS net income expectations are 222.3/251/276.1 billion yuan, YOY +45%/16%/13%. The company is given a target valuation level of 18x PE for NON-IFRS EPS in 2025, corresponding to a target price of 546.6 Hong Kong dollars. On December 17, WeChat's Xiaodian gray test "Gift Delivery" feature, excluding jewelry and Education.
Announcement Highlights | GTJA has been approved to be the major Shareholder of HAITONG SEC's related Overseas subsidiaries; CATHAY PAC AIR's passenger carried in November increased by about 20% year-on-year.
CATHAY PAC AIR's passenger carried in November increased by approximately 20% year-on-year; Connet Optical plans to issue 53.325 million placement shares at a discount of about 19.98% to Goertek in Hong Kong, raising a net of 0.828 billion Hong Kong dollars.
Eshallgo Inc Engages in Strategic Collaborations With Tencent
Apple Talks With Tencent, ByteDance to Integrate AI in IPhones, Reuters Says
Express News | Ehgo Announces Major Equity Financing, With up to $20 Million to Facilitate Its Entry Into Tencent's Business Ecosystem
