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Tencent's Buyback Plan in Focus as China Tech Earnings Start
Zhitong ADR Statistics | May 14
The Hong Kong stock ADR index rose. On a proportional basis, it closed at 16,404 points, up 153.50 points or 0.94% from the Hong Kong closing price.
Tencent Music Shares Soar 9.5% After First-Quarter Results Top Views
Tencent Music Entertainment's (TME) first-quarter results topped analyst expectations, as paying users and revenue gains in the company's online music services segment countered declines in the social
Express News | Tencent Music Entertainment Shares Are Trading Higher Following Q1 Earnings
Illustration丨Southbound's net purchase of Hong Kong stocks at 8.8 billion dollars, bucked the trend and reduced positions of Tencent, Meituan, and Kuaishou
Nanxia Capital made net purchases of HK$8.807 billion in Hong Kong stocks today, including net purchases of Yingfu Fund at $2,864 million, ICBC at $451 million, China Shenhua at $109 million; net sales of Tencent at $480 million, Meituan at $238 million, Kuaishou at $241 million, CNOOC at $186 million, and Pharmaceutical Biotech at $155 million. According to statistics, Southbound has reduced CNOOC's holdings for 7 consecutive days, totaling 1,880.5 billion yuan; Kuaishou reduced its positions for 6 consecutive days, totaling HK$1,657.26 billion.
Chinese NEV Production, Sales Surge in April
New energy vehicle production rose 36% to 870,000 units in April while sales increased 34% to 850,000 units, Xinhua News Agency reported Saturday, citing the China Association of Automobile Manufacturers.
Express News | Tencent Music Entertainment Reported Q1 MAU of 578 for Online Music, Down by 2.4% YoY, Mobile MAU of 97M for Social Entertainment, Down by 28.7% YoY
Express News | Tencent Music Entertainment Reported Q1 Revenue of $937M, Down by 3.4% YoY, Adj EPADS of $0.15
[Broker Focus] Tianfeng Securities maintains Tencent's (00700) target price of HK$476 and expects its game business to grow and begin to recover in the 2nd quarter
Jinwu Financial News | According to Tianfeng Securities Research, the bank believes that the market has relatively sufficient expectations for Tencent (00700) 1Q2024 revenue growth to be lackluster. The bank expects game business growth to enter a recovery path starting in 2Q2024, driving a recovery in revenue growth. Combined with changes in revenue structure, the gross profit margin will continue to increase, and the basis for continued profit growth is relatively solid. In the medium to long term, the company actively lays out the development of AI technology. The diversified product matrix corresponds to a broad range of potential application combinations, and technological progress may be an important growth multiplier in the medium to long term. The bank pointed out that considering that the game's growth factors were better than expected, gross profit
[Special V] Ye Shangzhi: We will enter the peak of phased euphoria
Jinwu Financial News | On May 10, Hong Kong stocks continued their upward trend for the second day in a row. The Hang Seng Index rose by more than 420 points, hitting a new high in eight months, closing close to the 19,000 point mark. Meanwhile, market turnover also increased, recording more than 170 billion yuan, the largest daily turnover since July 31 last year. Overall, Hong Kong stocks are still in the capital market, based on the undervaluation of Hong Kong stocks (the current price-earnings ratio of the Hang Seng Index is still less than 10 times, far less than 20 times that of the US stock market, Japanese stocks, and the Indian stock market). In addition, Japanese stocks and the Indian stock market have entered an adjustment phase since April, and the China Securities Regulatory Commission announced in late April
Tencent's First-Quarter Net Profit Likely Rose 38% -- Earnings Preview
NET PROFIT FORECAST: The Chinese videogame and social-media company is expected to report a net profit of 35.61 billion yuan ($4.93 billion), according to a FactSet poll of 19 analysts. That would represent a 38% gain from CNY25.84 billion in the same period last year.
[Hong Kong Stock Connect] Tencent Holdings (00700)'s performance rose 1.3%, institutions say technological progress may be an important growth multiplier in the medium to long term
Jinwu Financial News | The stock price of Tencent Holdings (00700) rose before the results, opening 0.65% lower in early trading, then fluctuated and turned upward. At the end of press release, it rose 1.35% to HK$376, with a turnover of HK$2,118 billion. The company will announce its results for the first quarter of 2024 on May 14. It is worth noting that Tencent's recent performance has been extremely impressive. Since March, the stock price has risen rapidly, with a cumulative increase of more than 33%. Tianfeng Securities released a research report saying that it believes that the market already has relatively sufficient expectations for the company's 1Q2024 revenue growth to be lackluster. The bank expects game business growth to be repaired starting in 2Q2024
Tianfeng Securities: Maintaining Tencent Holdings (00700)'s “Buy” Rating Target Price of HK$476
Tianfeng Securities predicts that Tencent's 2Q2024 online game growth rate is expected to return to around 5%, 2H2024 growth rate to about 8%, and domestic/overseas game revenue growth rate is expected to pick up.
Hong Kong Stock Concept Tracking | The National Standing Committee reviewed and approved an action plan for the digital transformation of the manufacturing industry, institutions are optimistic about smart factory construction (with concept stocks)
On May 11, the Executive Meeting of the State Council reviewed and approved the “Action Plan for Digital Transformation of the Manufacturing Industry”.
Galaxy Securities: The overall growth in media performance in '23 is clearly optimistic about the growth potential of high-quality companies under major industry trends
The media industry's cash flow improved significantly throughout 2023, with a certain increase in net operating cash flow and the ratio of net operating cash flow to revenue.
Zhitong ADR Statistics | May 10
The three major US stock indices rose across the board on Thursday, and the Hong Kong ADR index rose. On a proportional basis, it closed at 16,350 points, up 98.66 points, or 0.60% from the Hong Kong closing market.
[Hong Kong Stock Connect] Tencent (00700) has applied for a new social product trademark to test the waters of a new social circuit
Jinwu Financial News | According to media reports, Tencent (00700) is testing two new social products to test the waters of a new social circuit. One is a caramel-style close friend with the sub-product “Light Group,” while the other product, “Code N1,” combines MBTI (personality type theoretical model) and circle of friends. According to Tianyancha's intellectual property information, in March of this year, Tencent Technology (Shenzhen) Co., Ltd. applied for registration of a number of “light group” trademarks. The international classification includes communication services, education and entertainment, website services, etc. The current trademark status is awaiting substantive review. Furthermore, the developer of the product “Code N1” is Shenzhen Network Vision
The April ranking of Chinese mobile game revenue and downloads in overseas markets was released! “Last War” topped the revenue list, and “AFK Journey” reached the top of the growth list
In April 2024, the revenue and download rankings of Chinese mobile game products in overseas markets were released.
Zhitong ADR Statistics | May 9
The three major US stock indices had mixed ups and downs. The Hong Kong stock ADR index rose. On a proportional basis, it closed at 16,325 points, up 74.18 points or 0.45% from the Hong Kong closing.
Remedy Cancels Its Multiplayer Game Project With Tencent