Tencent 0700 02 (Jan 15 - Aug 18)

Re: Tencent 0700 02 (Jan 15 - Dec 17)

Postby winston » Wed Jul 05, 2017 6:56 am

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The Hang Seng index had gained about 3,900 points this year to 26,090 on June 9. Tencent alone accounted for about 25 percent, or nearly 1,000 points of this 17 percent gain.

Once investors found an excuse to sell, the profit-taking pressure was huge.

Tencent's share price fell 4.1 percent to HK$269.20 yesterday.

Dr Check believes it will soon fall below the 50 days moving average, currently at HK$266.40, and have a deeper correction.

Source: The Standard
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Re: Tencent 0700 02 (Jan 15 - Dec 17)

Postby winston » Wed Jul 05, 2017 10:59 am

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<Research Report>M Stanley Expects Impacts from Time Restriction on Games Playing for Children Limited for TENCENT

Morgan Stanley, in its report, said TENCENT (00700.HK) is the first Chinese company to announce measures to prevent young players from game addiction.

The broker believed the actual impact from the time constraint should be limited in the long term, as figures showed that the users of King of Glory younger than 14 years of age accounted for only 3.5% of the total gamers, while users aged between 15 and 19 accounted for 22.2%.

On the other hand, the younger gamer group generally has a lower paying ratio and ARPU. The broker kept TENCENT at Overweight with target price of $310.

The broker acknowledged that tightening regulations in the game industry may still be a concern, and will closely monitor the development of the new regulation requirements.

Overall, Morgan Stanley is still positive on Tencent's strong monetization capability in game, advertising, and payment, and believed the changes in King of Glory and regulation environment should support the long-term healthy growth of the game industry.

Source: AAStocks Financial News
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Re: Tencent 0700 02 (Jan 15 - Dec 17)

Postby winston » Wed Jul 05, 2017 11:41 am

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<Research Report>Deutsche Lifts TENCENT (00700.HK) Target to $320; Long-term Uncertainties in Online Game Regulation

Deutsche Bank, in its report, said TENCENT (00700.HK) will announce its 2Q results in mid-August.

The broker expected revenue of RMB52 billion (up 46% yearly), in line with consensus.

2Q mobile games should grow 47% yearly on momentum from King of Glory and other titles.

Newly launched Legacy TLBB 3D and Contra Mobile are also top ranked.

Ad revenue should rise 45% yearly; performance-based ads should grow 87% to RMB6.9 billion.

Deutsche Bank expected non-GAAP net income of RMB16.3 billion (as compared to consensus RMB14.4 billion), and kept revenue and earnings forecast largely unchanged.

The broker lifted the target price from $298 to $320, and has lowered 2018 P/E for PC and mobile games from 25x to 21x on higher long-term regulatory uncertainties.

Deutsche Bank kept the stock at Buy.

Source: AAStocks Financial News
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Re: Tencent 0700 02 (Jan 15 - Dec 17)

Postby winston » Wed Jul 05, 2017 12:03 pm

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<Research Report>UBS: Market Concern on TENCENT (00700.HK) King of Glory's Overdone

UBS, in its report, said the share price of TENCENT (00700.HK) fell 4.1% today, due to People's Daily ran two commentaries criticizing King of Glory (KOG)'s negative impact on children's life and study, raising fears of regulatory actions; partly in response to recent public concerns.

Tencent just announced new rules to limit daily play time for KOG gamers under 18 years old.

Under the new rules, users below 12 years old cannot play more than one hour per day, or log in post 9pm; while players aged 12-18 years are capped at two hours' daily play time.

Tencent may also impose a cap for in-app purchase amount for adolescent gamers.

UBS believed the impacts from new rules are overestimated due to misleading data points, and believed the pullback creates a further buying opportunity.

The broker estimated that quarterly revenue of KOG is about RMB6 billion this year, contributing to 11% of Tencent's 2017 total revenue (estimate).

Assuming 30-35% net margin of KOG, the broker estimated KOG accounts for 12-14% of Tencent total earnings in 2017.

UBS said the paying ratio and ARPU of child gamers are lower compared to mainstream gamers; thus their revenue and earnings contribution should be less than that of gamers.

The broker rated TENCENT at Buy with 12-month target price of $310.

Source: AAStocks Financial News
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Re: Tencent 0700 02 (Jan 15 - Dec 17)

Postby winston » Wed Jul 05, 2017 10:02 pm

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Here’s why Tencent’s Honour of Kings has 200 million players

Source: SCMP

http://www.scmp.com/business/companies/ ... on-players
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Re: Tencent 0700 02 (Jan 15 - Dec 17)

Postby winston » Thu Jul 06, 2017 4:40 am

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Tencent aims to hook more online gamers, viewers with TV tie-ups

To hook more users to play Honour of Kings, watch its dramas and variety shows, Tencent has been teaming up with China’s biggest TV makers

Source: SCMP

http://www.scmp.com/business/companies/ ... tv-tie-ups
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Re: Tencent 0700 02 (Jan 15 - Dec 17)

Postby winston » Thu Jul 06, 2017 4:41 am

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The company said its Honor of Kings mobile game fully complied with government regulations.

The share price recovered to HK$271, above the 50 days moving average of HK$267.

Dr Check prefers to wait for a few days before buying Tencent. If there is a further dip approaching the 100 days moving average of HK$243, it would be a bargain chance.

Tencent will announce its interim report in mid-August. It is highly likely the earnings figures won't be bad.

Source: The Standard
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Re: Tencent 0700 02 (Jan 15 - Dec 17)

Postby winston » Thu Jul 06, 2017 4:46 am

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Tencent looks set to stay ahead of the game

by Dominique Nguy

Shares of Tencent (0700) edged up yesterday with investors shrugging off concerns about a limit on youngsters playing its top-grossing mobile game Honor of Kings.

That came as Morgan Stanley said a limit that clicked in yesterday would have limited impact on Tencent as players of Honor of Kings aged 14 and below accounted for only 3.5 percent of the total number of players while those aged 15 to 19 made up 22.2 percent. And revenue from a young player is modest.

Honor of Kings players below 12 are now limited to one hour daily while it is two hours for those aged 12 to 18.

A report from Deutsche Bank forecast Tencent's revenue in the second quarter will grow 46 percent year on year to 52 billion yuan (HK$59.6 billion) - meeting expectations.

Shares of Tencent finished 0.7 percent up yesterday after they fell 3.3 percent to HK$260.40 in the morning but climbed back to HK$271.

Party newspaper the People's Daily has criticized Tencent twice this week, describing Honor of Kings as poison and calling for tighter controls on online games.

Meanwhile, Tencent put up to US$150 million (HK$1.17 billion) into Indonesian ride-hailing startup Go-Jek, sources said - another sign it will tap into Southeast Asia for mobile growth.

Source: The Standard
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Re: Tencent 0700 02 (Jan 15 - Dec 17)

Postby winston » Fri Jul 07, 2017 7:08 am

Tencent gains despite People's Daily attacks

by Dominique Nguy

Tencent (0700) yesterday edged up 0.3 percent, defying three rounds of attacks in four days by the People's Daily, over the internet giant's popular Honor of Kings mobile game.

In its editorial yesterday, the state- run paper said the new mobile age will not be as "worry-less" as people have thought and that mobile technology is a double-edged sword.

Opportunities are everywhere in the mobile age, but there will also be loopholes, it said, adding the mobile age has brought comforts and convenience, as well as troubles and annoyance.

"To a certain extent, competitiveness will depend on whether one can 'patch up' the system with the fastest speed and highest quality," the editorial said.

Tencent did not respond to the editorial, but said it will adopt new policies to prevent juveniles from becoming addicted to its popular game.

These include barring underage players from playing the game after 9pm.

Tencent said parents have welcomed the new playtime restriction and added it will also help improve communications between parents and children.

Tencent's share price rose 1.5 percent to HK$275 in the morning, but it later closed at HK$271.80. Turnover was HK$4.6 billion.

Earlier this week, the People's Daily slammed Tencent for putting profit above children's interests.

Source: The Standard

http://www.thestandard.com.hk/section-n ... 0707&sid=2
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Re: Tencent 0700 02 (Jan 15 - Dec 17)

Postby winston » Mon Jul 10, 2017 5:47 am

Trying to see through attacks on Tencent game

Investors were stunned by the People's Daily criticism of the Tencent (700) mobile game King of Glory for being a bad influence on young people.

Tencent's market value dropped more than 10 percent from HK$2.8 trillion last month to HK$2.5495 trillion.

Many international investors find it hard to believe that three online articles could make a company's market value evaporate more than HK$250 billion. But this is the risk of investing in Chinese shares and also explains why A shares are dominated by policy.

It was mentioned last week that the rumors about Fosun and HNA should not be taken lightly. We believe these rumors will keep appearing.

Friends familiar with mainland policy feel the criticism was a storm in a teacup because Tencent's management has always observed rules and regulations

But Tencent's WeChat Pay has been developing so fast that the group's cash flow could rival that of the major mainland banks.

And when the registered users of a mobile game are up to 200 million people, who are not fully controlled by the Chinese government, these factors could cause concern.

Before the 19th national congress of the Communist Party in October, we should be more vigilant - and so should King of Glory.

Source: Andrew Wong Wai-hong, The Standard
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