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<Research>CICC: TENCENT (00700.HK) Game Biz Remains Healthy; Rating Kept at Outperform w/ TP $600
CICC published a research report believing that TENCENT (00700.HK)'s game business remains relatively healthy, after updating its tracking of TENCENT, meanwhile its advertising...
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<Research>CICC: TENCENT (00700.HK) Game Biz Remains Healthy; Rating Kept at Outperform w/ TP $600
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CICC published a research report believing that TENCENT (00700.HK)  -1.000 (-0.193%)    Short selling $1.11B; Ratio 9.175%   's game business remains relatively healthy, after updating its tracking of TENCENT, meanwhile its advertising business shows stable driving force, continuing overall high-quality growth.

The broker basically maintained its 2025/ 2026 revenue and profit forecasts for TENCENT unchanged, and kept rating at Outperform/ target price of $600, corresponding to 2025/ 2026 non-IFRS PE ratio of 20x/ 18x, with a 21% upside potential compared to the current share price.

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TENCENT's advertising business is experiencing strong growth, with 2Q25 advertising revenue expected to grow by 17% YoY, and financial & enterprise services revenue by 5% YoY, CICC added.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-16 16:25.)

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