Despite macro headwinds and the impact of advertising spending tax, TENCENT (00700.HK) -2.500 (-0.418%) Short selling $554.88M; Ratio 5.307% is expected by UOB Kay Hian to maintain robust revenue growth in 4Q25, achieving a YoY increment of 13%, continuously benefiting from inventory release and AI empowerment. The broker believed that TENCENT's near-to-mid-term catalysts will include: 1) the launch of several flagship new games in 2026; 2) continued improvement in AI-driven advertising placement efficiency; 3) the launch of AI-powered mini-program code development tools on WeChat. The Buy rating was maintained, with the target price remaining unchanged at HKD800.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-01-23 16:25.)Related NewsNomura Expects TENCENT (00700.HK) 4Q Rev. to Grow 12% YoY, Reiterates Buy Rating