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<Research>HTSC Maintains Buy for TENCENT, Raises 2025 Adj. Earnings Forecast by 4%
Huatai Securities published a research report maintaining its Buy rating for TENCENT (00700.HK), noting that Tencent's 1Q revenue grew by 13% YoY, and adjusted earnings climbed...
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<Research>HTSC Maintains Buy for TENCENT, Raises 2025 Adj. Earnings Forecast by 4%
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Huatai Securities published a research report maintaining its Buy rating for TENCENT (00700.HK)  -7.500 (-1.455%)    Short selling $901.65M; Ratio 8.279%   , noting that Tencent's 1Q revenue grew by 13% YoY, and adjusted earnings climbed by 22% YoY, both topping market expectations by 2.5%. The broker forecast that Tencent's gaming revenue will enter a high base in 2Q and 3Q, while believing revenue can still maintain sturdy growth.

Looking ahead, Huatai Securities raised its revenue forecasts for Tencent for 2025-27 by 0.6%/ 0.5%/ 0.5%, reflecting the sustained growth of WeChat Mini Shops expected to drive synergistic growth in advertising and fintech, and was optimistic about AI products driving business development.

Related NewsCiti Lists H-shr Top Buys (Table)
Adjusted net profit forecasts for 2025-27 were revised by +4.1%/ -1.3%/ -1% to RMB262.7 billion, RMB285.1 billion, and RMB316.3 billion. The TP was lowered from HKD637.28 to HKD614.34, given the expected slowdown in YoY growth in gaming for 2Q.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-16 16:25.)

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