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| HSI1 | 22,881.02 | -145.66 | 308.05B |
| HSCEI1 | 7,558.30 | -47.04 | 109.39B |
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2026-06-30 11:25:41 CICC published a research report covering TENCENT (00700.HK), which is currently at its valuation trough since 2021. With the rollout of WeChat Agent and related initiatives, its AI deployment was expected to gradually demonstrate monetization potential and drive valuation recovery. The report noted that the core capabilities of the beta version of "Xiaowei" include information comprehension, task execution and application generation. Looking ahead, the broker projected possible enhancement areas to include efficiency tools such as daily knowledge base management, complex cross-application scenarios, the UGC mini-program ecosystem, and promoting the evolution of Agent from "search" to "recommendation". However, WeChat was expected to maintain appropriate safeguards regarding security and privacy issues. While the market often believes TENCENT excels at follower and imitation strategies, no company currently possesses an ecosystem comparable to WeChat, in CICC's view. AI innovation within such an ecosystem represents leading innovation that requires bottom-up exploration by the company and may take a longer period of time. The broker viewed the potential commercial opportunity for WeChat ToC Agent is traceable, with its core foundation rooted in the current transaction ecosystem of WeChat mini-programs, which generates GMV worth several trillion RMB. Assuming Agent can become a centralized entry point for distributing certain services, it was forecast to help WeChat improve its effective commission rate within the existing transaction ecosystem. The broker maintained its earnings forecasts for TENCENT for FY2026 and FY2027 unchanged, while reiterating its Outperform rating and HKD666 target price. ~ AASTOCKS Financial News Website: www.aastocks.com | |