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00700
TENCENT
HKD
621.00014.000
(2.31%)
1D
AI Analysis for 00700
AI Analysis
High
623.000
Open
613.000
VWAP
618.00
Vol
26.00M
Mkt Cap
6.00T
Low
610.500
Amount
16.00B
EV/EBITDA(TTM)
18.00
Total Shares
9.00B
EV
728.00B
EV/OCF(TTM)
18.00
P/S(TTM)
7.00
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
8.5
01-27aastocksPinnedPatsnap, Intellectual Property Data Provider, Exploring Dual Listing in Hong Kong and Singapore
Patsnap's Dual Listing Plans: Intellectual property data provider Patsnap is exploring a dual listing in Hong Kong and Singapore to raise between USD 300-400 million, with discussions still ongoing.
Company Background: Founded in 2007, Patsnap is supported by major investors like SoftBank and Tencent, and it offers intellectual property data and analytics services to over 15,000 companies.
8.5
01-27aastocksPinnedJieyue Xingchen, One of the 'AI 6 Tigers', Secures Over RMB 5 Billion in Funding
Funding Round Success: Jieyue Xingchen, a prominent Mainland Chinese startup in the AI sector, completed a B+ funding round exceeding RMB5 billion, attracting major investors like SSCILF and China Life Private Equity.
Investment Utilization: The funds raised will be directed towards foundational model research and development, aiming to enhance the company's AI+ terminal strategy.
8.5
01-26aastocksPinnedAI Chipmaker Axera Passes HK Listing Hearing; USD 400M IPO Expected for Investor Subscription Next Week
Axera's IPO Progress: Axera, an AI chipmaker from Zhejiang backed by Tencent, has successfully passed the Hong Kong Stock Exchange's Main Board listing hearing and is preparing for its IPO.
Investment Goals: The company aims to raise approximately USD 400 million through its Hong Kong IPO and is currently gauging investor interest, with subscriptions expected to start next week.
8.5
01-26aastocksPinnedEASTROC (09980.HK) Launches IPO Today with Minimum Investment of HKD 25,000+; Backed by Tencent, Qatar Sovereign Fund, and Temasek as Key Investors
IPO Launch: Mainland Chinese energy drink brand EASTROC begins its IPO from October 26 to 29, offering approximately 40.89 million shares at a maximum price of HKD248 per share, aiming to raise around HKD10.14 billion.
Listing and Fees: The company is set to list on February 3, with an entry fee of HKD25,050.11 for one board lot of 100 shares, and net proceeds from the IPO are estimated at HKD9.9943 billion.
Cornerstone Investors: EASTROC has secured backing from several cornerstone investors, including Al-Rayyan (QIA), Taibai (Temasek), TENCENT, BlackRock, and J.P. Morgan, collectively subscribing for about HKD4.99 billion in shares.
Market Activity: The stock has experienced short selling of approximately HKD554.88 million, with a short selling ratio of 5.307%.
4.5
10:25 AMaastocksHKD1.2 Billion Net Inflow from Southbound Trading into TENCENT
Southbound Trading Inflows: TENCENT (00700.HK) saw a significant net inflow of HKD1.2 billion, while POP MART (09992.HK) and CNOOC (00883.HK) also experienced notable inflows, with respective increases of 7.031% and 4.847%.
Southbound Trading Outflows: BABA-W (09988.HK) faced a net outflow of HKD944.9 million, alongside ZIJIN MINING (02899.HK) and SMIC (00981.HK), which also reported substantial outflows.
Market Activity: TENCENT was the most active stock in the Shanghai-Hong Kong Stock Connect with the highest net inflow, while TRACKER FUND (02800.HK) recorded the highest net outflow.
Overall Trading Summary: The total Southbound Trading net outflow was HKD0, accounting for 38.13% of the total transaction amount of HKD137.84 billion.
Money Flow
Over the past 66 trading days, overall net money flow is 442.00M, with retail investors contributing 18.00M and major investors adding 739.00M.
Net Buy $ Volume
Net Sell $ Volume
Haitong International
Outperform
maintain
$700
2026-01-26
New
Reason
Haitong International maintained an "Outperform" rating on TENCENT (00700.HK) due to expectations of solid performance in the upcoming 4Q25 results and optimism about the company's high-quality growth continuing into FY2026. The broker projected a 13% year-over-year increase in total revenue, reaching RMB195 billion, and a 15% year-over-year increase in non-IFRS operating profit, expected to be RMB68 billion.
Haitong International
Outperform
Price Target
$700
2026-01-26
maintain
New
Haitong International maintained an "Outperform" rating on TENCENT (00700.HK) due to expectations of solid performance in the upcoming 4Q25 results and optimism about the company's high-quality growth continuing into FY2026. The broker projected a 13% year-over-year increase in total revenue, reaching RMB195 billion, and a 15% year-over-year increase in non-IFRS operating profit, expected to be RMB68 billion.
Citi Research
Citi
Buy
maintain
$783
2026-01-23
New
Reason
The analyst rating from Citi Research for TENCENT (00700.HK) is based on several key factors:
1. AI Strategy and Restructuring: The company has recently accelerated its AI team restructuring and model updates, which is expected to be a focal point during the upcoming earnings release conference. This indicates a proactive approach to enhancing its AI capabilities, particularly within the WeChat ecosystem.
2. Market Performance: TENCENT's share price has declined by 0.25% year-to-date, which is seen as underperforming the market. This decline is viewed by the broker as a better buying opportunity, suggesting that the current price may not reflect the company's potential for growth.
3. Earnings Expectations: The upcoming 4Q25 results are anticipated to show solid performance, driven by resilient growth in gaming, stable advertising revenue, and strong growth in the overseas cloud business. These factors are expected to partially offset weaknesses in the fintech sector.
4. Investment in AI: The company's increased investment in AI talent and capital expenditure is expected to narrow the gap between revenue growth and gross/operating profit growth in the upcoming quarter.
Based on these insights, Citi Research has reiterated a "Buy" rating and raised the target price to $783, while also placing the stock on a 90-day positive catalyst watch.
Citi Research
Buy
Price Target
$783
2026-01-23
maintain
New
The analyst rating from Citi Research for TENCENT (00700.HK) is based on several key factors:
1. AI Strategy and Restructuring: The company has recently accelerated its AI team restructuring and model updates, which is expected to be a focal point during the upcoming earnings release conference. This indicates a proactive approach to enhancing its AI capabilities, particularly within the WeChat ecosystem.
2. Market Performance: TENCENT's share price has declined by 0.25% year-to-date, which is seen as underperforming the market. This decline is viewed by the broker as a better buying opportunity, suggesting that the current price may not reflect the company's potential for growth.
3. Earnings Expectations: The upcoming 4Q25 results are anticipated to show solid performance, driven by resilient growth in gaming, stable advertising revenue, and strong growth in the overseas cloud business. These factors are expected to partially offset weaknesses in the fintech sector.
4. Investment in AI: The company's increased investment in AI talent and capital expenditure is expected to narrow the gap between revenue growth and gross/operating profit growth in the upcoming quarter.
Based on these insights, Citi Research has reiterated a "Buy" rating and raised the target price to $783, while also placing the stock on a 90-day positive catalyst watch.
JPMorgan
JPMorgan
Overweight
maintain
$750
2026-01-23
New
Reason
The analyst rating for TENCENT (00700.HK) is "Overweight" based on several factors outlined in the report. JPMorgan notes that TENCENT's core businesses, particularly within the WeChat ecosystem, advertising, and gaming, remain resilient. However, the company is at an earlier stage in deploying generative AI compared to its peers, as management has prioritized reliability, compliance, and ecosystem compatibility over rapid scale expansion. This cautious approach results in the stock being less "AI-priced." The potential for upside value exists if TENCENT can demonstrate effective execution and product-market fit in the coming year. Despite lowering its 2026 adjusted EPS forecast by 1%, the target price remains at $750, supporting the positive rating.
JPMorgan
Overweight
Price Target
$750
2026-01-23
maintain
New
The analyst rating for TENCENT (00700.HK) is "Overweight" based on several factors outlined in the report. JPMorgan notes that TENCENT's core businesses, particularly within the WeChat ecosystem, advertising, and gaming, remain resilient. However, the company is at an earlier stage in deploying generative AI compared to its peers, as management has prioritized reliability, compliance, and ecosystem compatibility over rapid scale expansion. This cautious approach results in the stock being less "AI-priced." The potential for upside value exists if TENCENT can demonstrate effective execution and product-market fit in the coming year. Despite lowering its 2026 adjusted EPS forecast by 1%, the target price remains at $750, supporting the positive rating.
UOB Kay Hian
UOB Kay Hian
maintain
$800
2026-01-22
Reason
The analyst rating for TENCENT (00700.HK) is maintained as a "Buy" by UOB Kay Hian due to several positive factors. Despite facing macroeconomic challenges and the impact of advertising spending tax, TENCENT is expected to achieve robust revenue growth of 13% year-over-year in 4Q25. Key catalysts for this growth include the launch of flagship new games in 2026, improvements in AI-driven advertising placement efficiency, and the introduction of AI-powered mini-program code development tools on WeChat. The target price remains unchanged at HKD800.
UOB Kay Hian
Price Target
$800
2026-01-22
maintain
The analyst rating for TENCENT (00700.HK) is maintained as a "Buy" by UOB Kay Hian due to several positive factors. Despite facing macroeconomic challenges and the impact of advertising spending tax, TENCENT is expected to achieve robust revenue growth of 13% year-over-year in 4Q25. Key catalysts for this growth include the launch of flagship new games in 2026, improvements in AI-driven advertising placement efficiency, and the introduction of AI-powered mini-program code development tools on WeChat. The target price remains unchanged at HKD800.
Daiwa
Daiwa
Buy
downgrade
$750 -> $725
2026-01-21
Reason
The analyst rating for TENCENT (00700.HK) was reaffirmed as a "Buy" despite a lowered target price from HKD750 to HKD725. The reasons for this rating include expectations of a seasonal slowdown in the domestic gaming business and stabilization in the international gaming business after a strong previous quarter. Additionally, the recruitment of AI talent and GPU leasing costs are anticipated to pressure operating expenses. The broker adjusted its revenue forecasts, estimating a 12% year-over-year increase in local gaming revenue for 4Q25, but a 13% quarter-over-quarter decline, leading to a reduction in TENCENT's EPS forecast for 2026-27 by 1-2%.
Daiwa
Buy
Price Target
$750 -> $725
2026-01-21
downgrade
The analyst rating for TENCENT (00700.HK) was reaffirmed as a "Buy" despite a lowered target price from HKD750 to HKD725. The reasons for this rating include expectations of a seasonal slowdown in the domestic gaming business and stabilization in the international gaming business after a strong previous quarter. Additionally, the recruitment of AI talent and GPU leasing costs are anticipated to pressure operating expenses. The broker adjusted its revenue forecasts, estimating a 12% year-over-year increase in local gaming revenue for 4Q25, but a 13% quarter-over-quarter decline, leading to a reduction in TENCENT's EPS forecast for 2026-27 by 1-2%.
Goldman Sachs
Goldman Sachs
Buy
downgrade
$770 -> $752
2026-01-19
Reason
The analyst rating from Goldman Sachs for TENCENT is a "Buy" due to several key reasons:
1. Core Business Growth: Goldman Sachs believes that TENCENT's core businesses, which include gaming and advertising, will continue to experience low- to mid-teens growth annually. This is supported by the sustainability of its evergreen games and a strong product pipeline.
2. Monetization and AI Benefits: The company is expected to benefit from advancements in monetization strategies and the integration of AI into its advertising ecosystem, which could enhance revenue generation.
3. AI Application Potential: Goldman Sachs views TENCENT as an important player in the application of AI, suggesting that its involvement in this area could drive future growth.
4. Overall Sector Outlook: The broader gaming and entertainment sector in China has shown strong performance, and Goldman Sachs considers the risk-reward profile for the sector to still be attractive, particularly for companies with new growth potential.
Despite lowering the target price from HKD770 to HKD752, the positive outlook on TENCENT's growth prospects and its strategic positioning in the market supports the continued "Buy" rating.
Goldman Sachs
Buy
Price Target
$770 -> $752
2026-01-19
downgrade
The analyst rating from Goldman Sachs for TENCENT is a "Buy" due to several key reasons:
1. Core Business Growth: Goldman Sachs believes that TENCENT's core businesses, which include gaming and advertising, will continue to experience low- to mid-teens growth annually. This is supported by the sustainability of its evergreen games and a strong product pipeline.
2. Monetization and AI Benefits: The company is expected to benefit from advancements in monetization strategies and the integration of AI into its advertising ecosystem, which could enhance revenue generation.
3. AI Application Potential: Goldman Sachs views TENCENT as an important player in the application of AI, suggesting that its involvement in this area could drive future growth.
4. Overall Sector Outlook: The broader gaming and entertainment sector in China has shown strong performance, and Goldman Sachs considers the risk-reward profile for the sector to still be attractive, particularly for companies with new growth potential.
Despite lowering the target price from HKD770 to HKD752, the positive outlook on TENCENT's growth prospects and its strategic positioning in the market supports the continued "Buy" rating.
Nomura
Buy
maintain
$775
2026-01-19
Reason
Nomura maintained a "Buy" rating on TENCENT due to expectations of a 12% year-over-year revenue increase in 4Q25, which aligns with market consensus, and a projected 15% growth in non-IFRS net profit, despite being slightly lower than the latest market forecast. The anticipated increase in gross margin and operating profit margin further supports their positive outlook, leading to a target price of $775.
Nomura
Buy
Price Target
$775
2026-01-19
maintain
Nomura maintained a "Buy" rating on TENCENT due to expectations of a 12% year-over-year revenue increase in 4Q25, which aligns with market consensus, and a projected 15% growth in non-IFRS net profit, despite being slightly lower than the latest market forecast. The anticipated increase in gross margin and operating profit margin further supports their positive outlook, leading to a target price of $775.
HSBC
HSBC Global Research
Buy
maintain
$770
2026-01-16
Reason
The analyst rating for TENCENT (00700.HK) is maintained at "Buy" by HSBC Global Research due to several positive factors. The company's game and advertising business is described as healthy, with the game "Assault Fire" performing strongly and a low risk of market erosion for new versions. Additionally, advancements in AI technology in recruitment and organizational restructuring, along with a large user base that serves as a core competitive advantage, support the positive outlook. Despite lowering the non-IFRS net profit forecasts for 2025-2027 by 1-2%, the overall assessment remains optimistic, leading to the "Buy" rating and a target price of $770.
HSBC
Buy
Price Target
$770
2026-01-16
maintain
The analyst rating for TENCENT (00700.HK) is maintained at "Buy" by HSBC Global Research due to several positive factors. The company's game and advertising business is described as healthy, with the game "Assault Fire" performing strongly and a low risk of market erosion for new versions. Additionally, advancements in AI technology in recruitment and organizational restructuring, along with a large user base that serves as a core competitive advantage, support the positive outlook. Despite lowering the non-IFRS net profit forecasts for 2025-2027 by 1-2%, the overall assessment remains optimistic, leading to the "Buy" rating and a target price of $770.
Daiwa
maintain
2026-01-16
Reason
The analyst rating from Daiwa is based on several factors. They noted an earlier-than-usual "spring rally," which may lead investors to take profits ahead of significant events like the Lunar New Year holiday and the Two Meetings of the PRC (NPC and CPPCC Meetings). Despite this potential profit-taking, Daiwa expects liquidity support and stimulus policies to bolster the A-share market. However, they anticipate that the upward momentum will slow, resulting in a "slow bull market."
Daiwa maintains a positive outlook for the market in the first half of 2026 and recommends a balanced equity allocation between mainland China and Hong Kong stock markets. They express optimism about specific sectors, particularly Hong Kong's internet and high-dividend stocks, as well as the A-share technology hardware and equipment sector.
Daiwa
Price Target
2026-01-16
maintain
The analyst rating from Daiwa is based on several factors. They noted an earlier-than-usual "spring rally," which may lead investors to take profits ahead of significant events like the Lunar New Year holiday and the Two Meetings of the PRC (NPC and CPPCC Meetings). Despite this potential profit-taking, Daiwa expects liquidity support and stimulus policies to bolster the A-share market. However, they anticipate that the upward momentum will slow, resulting in a "slow bull market."
Daiwa maintains a positive outlook for the market in the first half of 2026 and recommends a balanced equity allocation between mainland China and Hong Kong stock markets. They express optimism about specific sectors, particularly Hong Kong's internet and high-dividend stocks, as well as the A-share technology hardware and equipment sector.
JPMorgan
JPMorgan
maintain
$750
2025-12-17
Reason
The analyst rating from JPMorgan is based on several key factors:
1. Core Advantage: TENCENT's management highlighted that the company's strength lies in its replicable business model, which allows for localization and global scaling, rather than relying on single blockbuster products.
2. Market Potential: The estimated market size for shooting games is projected to reach US$38 billion by 2025, indicating significant growth potential in the gaming sector.
3. Business Model: TENCENT's 'three-engine' model of publishing, developing, and investing in game studios positions the company well to capitalize on the rapidly growing gaming market.
4. Long-term Growth: JPMorgan views TENCENT as a 'multi-year profit compound growth stock' that is leveraging AI and global expansion to improve business efficiency and quality, rather than focusing solely on cost-cutting or short-term gains.
5. Optimism About Growth Cycle: The overall outlook for TENCENT's growth cycle is positive, leading to the Overweight rating and a target price of $750.
These factors collectively contribute to the optimistic analyst rating for TENCENT.
JPMorgan
Price Target
$750
2025-12-17
maintain
The analyst rating from JPMorgan is based on several key factors:
1. Core Advantage: TENCENT's management highlighted that the company's strength lies in its replicable business model, which allows for localization and global scaling, rather than relying on single blockbuster products.
2. Market Potential: The estimated market size for shooting games is projected to reach US$38 billion by 2025, indicating significant growth potential in the gaming sector.
3. Business Model: TENCENT's 'three-engine' model of publishing, developing, and investing in game studios positions the company well to capitalize on the rapidly growing gaming market.
4. Long-term Growth: JPMorgan views TENCENT as a 'multi-year profit compound growth stock' that is leveraging AI and global expansion to improve business efficiency and quality, rather than focusing solely on cost-cutting or short-term gains.
5. Optimism About Growth Cycle: The overall outlook for TENCENT's growth cycle is positive, leading to the Overweight rating and a target price of $750.
These factors collectively contribute to the optimistic analyst rating for TENCENT.
Valuation Metrics
Forward PE
5Y Average PE
20.30
Current PE
18.50
Overvalued PE
28.48
Undervalued PE
12.11
Forward EV/EBITDA
5Y Average EV/EBITDA
15.15
Current EV/EBITDA
14.05
Overvalued EV/EBITDA
19.36
Undervalued EV/EBITDA
10.95
Forward PS
5Y Average PS
5.37
Current PS
6.26
Overvalued PS
6.70
Undervalued PS
4.03
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