All Hong Kong stocks quotes are at least 15 minutes delayed.
00700
TENCENT
HKD
521.00019.000
(3.78%)
1D
AI Analysis for 00700
AI Analysis
High
521.500
Open
504.000
VWAP
513.97
Vol
14.07M
Mkt Cap
4.99T
Low
502.000
Amount
7.23B
EV/EBITDA(TTM)
14.81
Total Shares
9.11B
EV
595.30B
EV/OCF(TTM)
14.77
P/S(TTM)
5.80
Tencent Holdings Ltd is an investment holding company primarily engaged in the provision of value-added services (VAS), online advertising services, as well as FinTech and business services. The Company primarily operates through four segments. The VAS segment is mainly engaged in the provision of online games, video account live broadcast services, paid video membership services and other social network services. The Online Advertising segment is mainly engaged in media advertising, social and other advertising businesses. The FinTech and Business Services segment mainly provides commercial payment, FinTech and cloud services. The Others segment is principally engaged in the investment, production and distribution of films and television program for third parties, copyrights licensing, merchandise sales and various other activities.
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News
4.5
01:35 AMaastocksHSI Starts 37 Points Up; JD.com Shows Strong Performance After Results; BYD COMPANY Sees Slight Increase
Market Overview: The HSI opened slightly higher at 25,358, with the HSCEI and HSTECH also showing modest gains, reflecting a positive start in the Hong Kong stock market.
JD Group Performance: JD-SW saw a significant rise of 7.375% despite reporting a 90% YoY decline in net profit, while JD Health and JD Logistics also experienced notable increases in their stock prices due to strong profit growth.
Tech Stocks Movement: Major tech stocks like Tencent and Alibaba showed slight gains, while others like Bilibili and XD Inc faced declines, indicating mixed performance within the sector.
Automotive Sector Updates: BYD Company opened with a slight increase after announcing new battery technology, while other automotive stocks like Xiaomi and Li Auto had varied performances, reflecting ongoing developments in the industry.
4.5
03-05aastocksTRACKER FUND Sees HKD13.7B Net Outflow in Southbound Trading
Southbound Trading Inflows: TENCENT (00700.HK) saw significant Southbound Trading net inflows of HKD1.5 billion, while CNOOC (00883.HK) and SHANDONG MOLONG (00568.HK) also experienced inflows, despite a decline in their stock prices.
Southbound Trading Outflows: The TRACKER FUND (02800.HK) faced the highest net outflow of HKD13.7 billion, with HSCEI ETF (02828.HK) and CSOP HS TECH (03033.HK) also reporting substantial outflows.
Short Selling Activity: TENCENT had a short selling value of $1.95 billion with a ratio of 16.015%, while TRACKER FUND recorded a short selling of $5.22 billion at a ratio of 13.671%, indicating significant market activity.
Overall Market Movement: At the close, Southbound Trading net outflow totaled HKD0, accounting for 46.78% of the total transaction amount of HKD150.56 billion, reflecting a balanced trading environment.
2.0
03-05aastocksShort Selling Activity Reaches $51.4B, Representing 18.4% of Total Eligible Securities Turnover at Market Close
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $51.4 billion, accounting for 18.4% of the eligible securities turnover, a decrease from 20.8% on the previous trading day.
Top Short Selling Shares: The top five shares with the highest short selling amounts include TRACKER FUND (02800.HK) at $5.22B, BABA-W (09988.HK) at $2.77B, CSOP HS TECH (03033.HK) at $2.09B, TENCENT (00700.HK) at $1.95B, and HSCEI ETF (02828.HK) at $1.79B.
Short Selling Ratios: The short selling ratios for these top shares are TRACKER FUND at 13.7%, BABA-W at 16.1%, CSOP HS TECH at 18.5%, TENCENT at 16%, and HSCEI ETF at 10.7%.
Market Data Delay: It is noted that the stock quotes for Hong Kong stocks are delayed by at least 15 minutes, with the short selling data recorded as of March 5, 2026.
8.5
03-05aastocksCN Autonomous Driving Company Momenta Reportedly Submits Confidential Application for HK IPO, Aiming to Raise Over US$1B
IPO Filing: Chinese autonomous driving technology company Momenta has secretly filed for an IPO in Hong Kong, aiming to raise at least US$1 billion.
Backers and Advisors: The company is backed by General Motors and Tencent, and is working with CICC and Deutsche Bank on the listing process while gauging investor interest.
4.5
03-05aastocks<Daily Summary> HSI Ends at 25,321, Gaining 71 Points; HSTI Finishes at 4,796, Dropping 33 Points; JD HEALTH Falls More Than 6%; KINETIC DEV Reaches New Highs; Market Turnover Increases
Market Performance: The Hang Seng Index (HSI) rose by 71 points (0.3%) to 25,321, while the Hang Seng Technology Index (HSTI) and the Hang Seng China Enterprises Index (HSCEI) fell by 33 points (0.7%) and 32 points (0.4%) respectively, with a total market turnover of $321.87 billion.
Active Heavyweights: Major stocks like Alibaba, Meituan, and Tencent experienced declines, with Alibaba closing down 2.8% at $126.3, while HKEX and Xiaomi saw slight gains.
Notable Movers: AIA and Wharf REIC were among the top gainers, with AIA increasing by 5.1% to $85.1, while JD Health faced a significant drop of 6.2% to $47.5.
Sector Highlights: In the HSMI & HSSI sectors, WestChinaCement plummeted by 26.6%, while SH Electric surged by 15.8%, indicating varied performance across different sectors.
Money Flow
Over the past 66 trading days, overall net money flow is 1.39B, with retail investors contributing 614.56M and major investors adding 622.73M.
Net Buy $ Volume
Net Sell $ Volume
Daiwa
Daiwa
maintain
$175
2026-03-04
New
Reason
The analyst rating from Daiwa is a "Buy" for BIDU-SW (09888.HK) due to several key reasons:
1. Kunlunxin IPO Valuation: The report predicts that the valuation of Kunlunxin's IPO will exceed that of its peers, driven by its larger revenue scale and better profitability.
2. Strong Revenue from External Demand: Kunlunxin is currently generating significant revenue from external clients, including major companies like Tencent and a large telecommunications operator.
3. Sufficient Chip Production Capacity: Management has indicated that there are no immediate concerns regarding chip production capacity, as Kunlunxin has secured enough supply to support its development for the next two years.
4. AI Business Growth: Daiwa believes that BIDU-SW's capability to develop high-performance, low-cost lightweight AI models will continue to drive strong revenue growth.
5. Operational Efficiency: The company is expected to maintain a strong pace of AI investment while benefiting from operational cost savings due to employee optimization conducted at the end of the previous year.
6. Recent Catalysts: The upcoming Kunlunxin listing and details regarding the 2026 dividend plan are seen as positive catalysts for the stock.
These factors collectively support Daiwa's positive outlook and target price of HKD175 for BIDU-SW.
Daiwa
Price Target
$175
2026-03-04
maintain
New
The analyst rating from Daiwa is a "Buy" for BIDU-SW (09888.HK) due to several key reasons:
1. Kunlunxin IPO Valuation: The report predicts that the valuation of Kunlunxin's IPO will exceed that of its peers, driven by its larger revenue scale and better profitability.
2. Strong Revenue from External Demand: Kunlunxin is currently generating significant revenue from external clients, including major companies like Tencent and a large telecommunications operator.
3. Sufficient Chip Production Capacity: Management has indicated that there are no immediate concerns regarding chip production capacity, as Kunlunxin has secured enough supply to support its development for the next two years.
4. AI Business Growth: Daiwa believes that BIDU-SW's capability to develop high-performance, low-cost lightweight AI models will continue to drive strong revenue growth.
5. Operational Efficiency: The company is expected to maintain a strong pace of AI investment while benefiting from operational cost savings due to employee optimization conducted at the end of the previous year.
6. Recent Catalysts: The upcoming Kunlunxin listing and details regarding the 2026 dividend plan are seen as positive catalysts for the stock.
These factors collectively support Daiwa's positive outlook and target price of HKD175 for BIDU-SW.
UBS
NULL -> Buy
maintain
$780
2026-03-02
New
Reason
The analyst rating from UBS for TENCENT (00700.HK) is a "Buy" with a target price of HKD780. The reasons for this rating include:
1. Unique Advantages: UBS believes TENCENT has unique advantages that are difficult to replicate, particularly in the agentic AI domain.
2. Strong User Base: With 1.4 billion users on WeChat, TENCENT has a diverse application ecosystem that supports its potential in AI.
3. Integration of High-Quality Models: UBS emphasizes that success in AI will depend on integrating high-quality models, a strong user base, and extensive data, which TENCENT possesses.
4. Optimism Despite Concerns: While there are concerns about potential VAT increases, regulatory scrutiny, and competition in AI, UBS remains optimistic about TENCENT's massive potential.
Overall, UBS's positive outlook is based on TENCENT's strong market position and capabilities in AI, despite recent stock performance challenges.
UBS
NULL -> Buy
Price Target
$780
2026-03-02
maintain
New
The analyst rating from UBS for TENCENT (00700.HK) is a "Buy" with a target price of HKD780. The reasons for this rating include:
1. Unique Advantages: UBS believes TENCENT has unique advantages that are difficult to replicate, particularly in the agentic AI domain.
2. Strong User Base: With 1.4 billion users on WeChat, TENCENT has a diverse application ecosystem that supports its potential in AI.
3. Integration of High-Quality Models: UBS emphasizes that success in AI will depend on integrating high-quality models, a strong user base, and extensive data, which TENCENT possesses.
4. Optimism Despite Concerns: While there are concerns about potential VAT increases, regulatory scrutiny, and competition in AI, UBS remains optimistic about TENCENT's massive potential.
Overall, UBS's positive outlook is based on TENCENT's strong market position and capabilities in AI, despite recent stock performance challenges.
UBS
initiated
2026-02-26
Reason
The analyst rating from UBS for the listed Chinese companies is based on their preference for stocks that are expected to perform well, as indicated by all the companies being rated at "Buy." The report highlights new additions to their preferred list, such as SYTECH, DONGFANG ELEC, and ENVICOOL, which suggests a positive outlook on these companies' performance. The report also notes the short selling data and ratios for some companies, indicating market sentiment and potential risks. Overall, the ratings reflect UBS's confidence in the growth potential of these companies in the current market environment.
UBS
Price Target
2026-02-26
initiated
The analyst rating from UBS for the listed Chinese companies is based on their preference for stocks that are expected to perform well, as indicated by all the companies being rated at "Buy." The report highlights new additions to their preferred list, such as SYTECH, DONGFANG ELEC, and ENVICOOL, which suggests a positive outlook on these companies' performance. The report also notes the short selling data and ratios for some companies, indicating market sentiment and potential risks. Overall, the ratings reflect UBS's confidence in the growth potential of these companies in the current market environment.
Goldman Sachs
Goldman Sachs
Buy
downgrade
2026-02-26
Reason
The analyst rating from Goldman Sachs is maintained at "Buy" despite a drop in the target price from $1.17 to $1.07. The reasoning behind this rating includes the observation that some companies' current stock prices are nearing the low end of their five-year price-to-earnings (PE) ratio range, indicating potential value. Additionally, while there are concerns about the competitive landscape and potential losses in the movie sector, there is an expectation for high single-digit to low double-digit year-over-year growth in earnings per share (EPS) in 2026, and over 30% EPS growth for FY2027. The report also highlights the solid business foundation and AI potential of certain companies, which supports the positive outlook.
Goldman Sachs
Buy
Price Target
2026-02-26
downgrade
The analyst rating from Goldman Sachs is maintained at "Buy" despite a drop in the target price from $1.17 to $1.07. The reasoning behind this rating includes the observation that some companies' current stock prices are nearing the low end of their five-year price-to-earnings (PE) ratio range, indicating potential value. Additionally, while there are concerns about the competitive landscape and potential losses in the movie sector, there is an expectation for high single-digit to low double-digit year-over-year growth in earnings per share (EPS) in 2026, and over 30% EPS growth for FY2027. The report also highlights the solid business foundation and AI potential of certain companies, which supports the positive outlook.
CLSA
CLSA
maintain
2026-02-05
Reason
The analyst rating from CLSA is based on several key factors:
1. Strong Performance in 2025: The Chinese internet sector, particularly led by DeepSeek in AI trends, showed robust growth, which is expected to continue into 2026.
2. Intensified Competition: There is anticipated increased competition in agentic and video generation applications, particularly between China and the US in various AI-related fields.
3. Expansion in Overseas Markets: Despite geopolitical challenges, the Chinese gaming and e-commerce sectors are expanding rapidly in international markets.
4. Cautious Outlook on Domestic E-commerce: While there is optimism in certain sectors, CLSA maintains a cautious stance on the domestic e-commerce sector.
5. Investment Strategy Favoring AI, Gaming, and Health: CLSA recommends focusing on AI, gaming, and health-related sectors, forecasting significant revenue and EBIT growth.
6. Leadership in AI Application Implementation: CLSA believes that China is well-positioned to lead globally in the implementation of AI applications.
These factors collectively inform CLSA's positive outlook on specific stocks, including TENCENT, XIAOMI, and BABA, highlighting their strengths in AI applications and cloud services.
CLSA
Price Target
2026-02-05
maintain
The analyst rating from CLSA is based on several key factors:
1. Strong Performance in 2025: The Chinese internet sector, particularly led by DeepSeek in AI trends, showed robust growth, which is expected to continue into 2026.
2. Intensified Competition: There is anticipated increased competition in agentic and video generation applications, particularly between China and the US in various AI-related fields.
3. Expansion in Overseas Markets: Despite geopolitical challenges, the Chinese gaming and e-commerce sectors are expanding rapidly in international markets.
4. Cautious Outlook on Domestic E-commerce: While there is optimism in certain sectors, CLSA maintains a cautious stance on the domestic e-commerce sector.
5. Investment Strategy Favoring AI, Gaming, and Health: CLSA recommends focusing on AI, gaming, and health-related sectors, forecasting significant revenue and EBIT growth.
6. Leadership in AI Application Implementation: CLSA believes that China is well-positioned to lead globally in the implementation of AI applications.
These factors collectively inform CLSA's positive outlook on specific stocks, including TENCENT, XIAOMI, and BABA, highlighting their strengths in AI applications and cloud services.
Morgan Stanley
Strong Buy
maintain
2026-02-04
Reason
The analyst rating from Morgan Stanley is based on the belief that market concerns regarding potential negative impacts from VAT regulations are overblown. This conclusion is supported by the fact that Xinhua News Agency, China's official media, has already refuted such speculations. Additionally, Morgan Stanley highlighted that, unlike the telecom industry, there is currently no evidence indicating any changes to the VAT on internet-related service revenues, such as gaming and advertising. This positive outlook has led Morgan Stanley to maintain TENCENT as its top pick due to its resilient core business and to hold a favorable view on BABA-W.
Morgan Stanley
Strong Buy
Price Target
2026-02-04
maintain
The analyst rating from Morgan Stanley is based on the belief that market concerns regarding potential negative impacts from VAT regulations are overblown. This conclusion is supported by the fact that Xinhua News Agency, China's official media, has already refuted such speculations. Additionally, Morgan Stanley highlighted that, unlike the telecom industry, there is currently no evidence indicating any changes to the VAT on internet-related service revenues, such as gaming and advertising. This positive outlook has led Morgan Stanley to maintain TENCENT as its top pick due to its resilient core business and to hold a favorable view on BABA-W.
CLSA
maintain
2026-02-04
Reason
The analyst rating from CLSA is a "High-Conviction Outperform" for TENCENT due to their expectation of solid financial performance in 4Q25, with a projected 13.5% year-over-year increase in total revenue and a 20.6% rise in adjusted EBIT. Additionally, CLSA anticipates strong growth in TENCENT's online gaming and advertising businesses, with double-digit growth expected in gaming and around 20% growth in advertising for 2026.
CLSA
Price Target
2026-02-04
maintain
The analyst rating from CLSA is a "High-Conviction Outperform" for TENCENT due to their expectation of solid financial performance in 4Q25, with a projected 13.5% year-over-year increase in total revenue and a 20.6% rise in adjusted EBIT. Additionally, CLSA anticipates strong growth in TENCENT's online gaming and advertising businesses, with double-digit growth expected in gaming and around 20% growth in advertising for 2026.
Citi
Citi Research
maintain
$783 -> $161
2026-02-04
Reason
The analyst rating from Citi Research is based on the belief that the recent sell-off of Chinese online game stocks is unwarranted and driven by unfounded speculation regarding a potential increase in value-added tax (VAT) on online game revenue. The report clarifies that the applicable VAT rate for the sale of intangible assets, including virtual items in online games, is 6%, which is different from the VAT rate for telecommunications services. Therefore, Citi Research sees no basis for an increase in VAT and views the current market conditions as an enhanced buying opportunity, leading them to maintain a Buy rating on companies like Tencent and NetEase.
Citi
Price Target
$783 -> $161
2026-02-04
maintain
The analyst rating from Citi Research is based on the belief that the recent sell-off of Chinese online game stocks is unwarranted and driven by unfounded speculation regarding a potential increase in value-added tax (VAT) on online game revenue. The report clarifies that the applicable VAT rate for the sale of intangible assets, including virtual items in online games, is 6%, which is different from the VAT rate for telecommunications services. Therefore, Citi Research sees no basis for an increase in VAT and views the current market conditions as an enhanced buying opportunity, leading them to maintain a Buy rating on companies like Tencent and NetEase.
Citi
maintain
2026-02-03
Reason
The analyst rating from Citi is a Buy for TENCENT, based on the belief that the impact of Google's Project Genie on Chinese gaming companies will be limited. Citi argues that since Google's services, including Project Genie, are inaccessible in China unless users use a VPN, it will not affect the gaming habits of Chinese users. Additionally, they estimate that the potential success of Project Genie could positively impact TENCENT's Hunyuan World Model 1.5 and its mini-game ecosystem.
Citi
Price Target
2026-02-03
maintain
The analyst rating from Citi is a Buy for TENCENT, based on the belief that the impact of Google's Project Genie on Chinese gaming companies will be limited. Citi argues that since Google's services, including Project Genie, are inaccessible in China unless users use a VPN, it will not affect the gaming habits of Chinese users. Additionally, they estimate that the potential success of Project Genie could positively impact TENCENT's Hunyuan World Model 1.5 and its mini-game ecosystem.
BNP Paribas
BNP Paribas
maintain
$783 -> $825
2026-01-30
Reason
The analyst rating from BNP Paribas is based on the belief that TENCENT is well-positioned to become a major winner in the development of generative AI, along with the consideration that its valuation is attractive. Despite recent concerns over AI, China's macroeconomic conditions, and earnings momentum, the firm reiterated its Outperform rating and raised the target price to $825.
BNP Paribas
Price Target
$783 -> $825
2026-01-30
maintain
The analyst rating from BNP Paribas is based on the belief that TENCENT is well-positioned to become a major winner in the development of generative AI, along with the consideration that its valuation is attractive. Despite recent concerns over AI, China's macroeconomic conditions, and earnings momentum, the firm reiterated its Outperform rating and raised the target price to $825.
Valuation Metrics
Forward PE
5Y Average PE
19.78
Current PE
18.50
Overvalued PE
27.22
Undervalued PE
12.34
Forward EV/EBITDA
5Y Average EV/EBITDA
14.86
Current EV/EBITDA
14.05
Overvalued EV/EBITDA
18.60
Undervalued EV/EBITDA
11.13
Forward PS
5Y Average PS
5.27
Current PS
6.26
Overvalued PS
6.43
Undervalued PS
4.11
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