Tencent 0700 02 (Jan 15 - Dec 18)

Re: Tencent 0700 02 (Jan 15 - Dec 18)

Postby winston » Tue Jul 03, 2018 11:44 am

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<IPO News>Tencent Music Said To Submit US Listing Application This Week; Mkt Cap Over US$30B

Tencent Music is set to submit an IPO application document to U.S. Securities and Exchange Commission this Friday (6 July), officially initiating the listing procedure in the U.S.., Mainland media reported.

The major underwriters of the IPO are reportedly Goldman Sachs and Morgan Stanley. The conservative offer prices range set by investment banks are between US$29-31 billion.

Market generally projected the market cap of Tencent Music will whop over US$30 billion.

Source: AAStocks Financial News
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Re: Tencent 0700 02 (Jan 15 - Dec 18)

Postby winston » Thu Jul 05, 2018 7:56 am

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Tencent's WeChat is now host to 1 million mini-programs

Mini programs are helping to boost customer retention on WeChat, which has 1 billion users globally.

The proportion of users who return the next day to use the app increased to 25.5 per cent in June, from 13.2 per cent in November.

The record for daily active users was 280 million, reached in February during the Chinese New Year holiday. That was helped by the popularity of the Jump Jump mini-game, which attracted 400 million players in less than three days after becoming available on WeChat’s homepage.

Tencent opened its mini-program platform to outside developers in April, giving them 30 to 50 per cent share of revenue generated from advertisements.

By the end of this year, the daily active users for mini-programs are expected to reach 400 million, according to the report. WeChat currently has a user base of 1 billion globally,


Source: SCMP

https://www.scmp.com/tech/article/21537 ... i-programs
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Re: Tencent 0700 02 (Jan 15 - Dec 18)

Postby winston » Tue Jul 10, 2018 11:22 am

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<Research Report>C Suisse Cuts TENCENT (00700.HK) TP to $496; Expects 2Q Non-GAAP Profit Miss

Credit Suisse forecast TENCENT (00700.HK) 2Q revenue to grow 29% YoY to RMB73 billion, 8.6% below consensus projection.

Non-GAAP profit was expected to rise 14% YoY to RMB18.6 billion, 6.7% trailing market estimates.

TENCENT was maintained at Outperform with rating cut to $496 from $523.

The research house foresaw TENCENT to realize RMB17.2 billion revenue from mobile game, down 20% QoQ or up 17% YoY, due to seasonal factors.

PUBG has not yet monetized despite increasing users base.

While new games have not generated notable revenue, existing games have lacked remarkable updates.

Source: AAStocks Financial News
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Re: Tencent 0700 02 (Jan 15 - Dec 18)

Postby winston » Wed Jul 11, 2018 11:48 am

<Research Report>Nomura Trims TENCENT (00700.HK) TP to $492; Reiterated Buy

Nomura predicted in its report that TENCENT (00700.HK)'s 2Q top-line and non-GAAP EPS will show 31% and 2% growth to RMB74 billion and RMB1.76, below consensus, due to an expected slowdown in the mobile gaming business.

Nomura predicted that mobile game revenue will rise 17% YoY to RMB12 billion; PC revenue will drop 8% YoY.

TENCENT was reiterated Buy at the target price HKD492, trimmed from HKD520.

The stock is trading at 45x FY18F P/E, suggesting a 27% upside potential.

Source: AAStocks Financial News
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Re: Tencent 0700 02 (Jan 15 - Dec 18)

Postby winston » Wed Jul 11, 2018 3:10 pm

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WeChat Pay: Card-bundled Users Over 800M; Eyes Mainlanders' Hot Tourist Spots First

Yin Jie, a global business director of WeChat Pay, said WeChat Pay, supporting 13 kinds of currencies across over 40 countries and regions, has card-bundled users of more than 800 million.

Yin praised WeChat and WeChat Pay are developed and applied well in retail, transportation and education sectors.

For overseas development, Yin said the company eyes on the cross-border tourist hot spots of Chinese people in first step, including Hong Kong, Macau, Japan, South Korea and Thailand, followed by Europe, America, Australia and New Zealand.

The company said it will mull prompting WeChat Pay products further for local people in overseas countries for next step after they see more promising performance in the first step.

Source: AAStocks Financial News
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Re: Tencent 0700 02 (Jan 15 - Dec 18)

Postby winston » Mon Jul 16, 2018 3:59 pm

<Research Report>CICC Lowers TENCENT TP to $502 on Expected 18% YoY Growth in 2Q Non-GAAP Profit

CICC forecast TENCENT (00700.HK) 2Q18 revenue to increase 36.8% YoY to RMB77 billion.

Non-GAAP net profit was expected to grow 18% YoY to RMB19.4 billion. Both missed street consensus.

CICC commented that the sluggishness of TENCENT's game business may sustain, adding the company should maintain solid ad performance, mainly driven by WeChat Moments and public accounts.

In order to reflect the projection for game revenue downtrend, CICC lowered 2018E revenue and profit of TENCENT by 5.8% and 6.5%.

The target price was trimmed by 7% to HK$502 with rating kept Recommend.

Source: AAStocks Financial News
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Re: Tencent 0700 02 (Jan 15 - Dec 18)

Postby winston » Fri Jul 20, 2018 11:55 am

<Research Report>Daiwa Cuts TENCENT (00700.HK) TP to $490; Reiterated Buy

Daiwa reiterated Buy on TENCENT (00700.HK) with a 12-month target price trimmed to $490 from $530.

As to the 2Q results to be released on 15 August, Daiwa forecast TENCENT's mobile game business to decline 7% period on period, under the influence of delay in monetization of PUBG.

Yet, Daiwa believed the company's launch of Fortnite and Monster Hunter in 2H18 will embrace catalysts.

Daiwa lowered TENCENT non-GAAP 2019E net profit to RMB115 billion from RMB119 billion, with a YoY growth rate of 35%.

Source: AAStocks Financial News
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