Tencent 0700 03 (Aug 18 - Sep 21)

Re: Tencent 0700 03 (Aug 18 - Dec 20)

Postby winston » Tue Dec 03, 2019 4:06 pm

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<Research Report>BNP Paribas Sees TENCENT (00700.HK) 2019 Revenue to Grow 20% YoY, TP Kept at $460

BNP Paribas kept TENCENT (00700.HK)'s target price at $460 along with a Buy rating.

The giant is expected to record revenue growth of 20% YoY this year (vs 25% in FY18), together with adjusted OPM rise of 25.4% YoY (vs 23.9% in FY18), and net profit increment of 18% YoY (vs 26% in FY18).

Tencent's FY20 revenue growth will likely accelerate to 25%, given contributions from PUBG Mobile and other new titles, the broker added.

Source: AStocks Financial News
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Re: Tencent 0700 03 (Aug 18 - Dec 20)

Postby winston » Tue Jan 21, 2020 5:01 am

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Ma share sale sparks Tencent peak jitters

by Kevin Xu

Tencent (0700) chairman Pony Ma Huateng, has offloaded his shares over four consecutive days last week for the first time in two years, selling a total of five million shares worth about HK$2 billion, data from the Stock Exchange of Hong Kong showed.

Ma's interest in Tencent has dropped from 8.58 percent to 8.53 percent. A spokesperson from Tencent said it is part of Ma's personal financial planning, local media reported.

The last time Ma sold his stake in the Chinese internet giant was in October 2017, when he also sold his shares for four days for HK$2.1 billion at between HK$348.09 and HK$351.13, citing charity purposes.

Tencent shares dipped by 0.75 percent to HK$396 and analysts expect the company's shares to fall as low as HK$360, as fears grow that the stock's price has peaked.

Tencent's shares have surged around 53 percent from a low of HK$260 in October 2018, as of yesterday.

Ma's sale came as he stepped down as chairman and general manager of Tenpay Micro Loan, which is primarily involved in the online micro-credit business, according to enterprise information database Tianyancha.

Feng Mingjie has succeeded the chairman, and Tang Ling has taken over as general manager of the Shenzhen-based company.

In September last year, Ma also ceased to be legal representative and executive director in its subsidiary Tencent Credit, mainland media reported, citing a mainland online database.

The report said Tencent Credit's new legal representative and chairman is Liu Haifeng, the vice chief executive of fintech business in Tencent.

Earlier this month, Tencent (0700) president Martin Lau Chi-ping sold 500,000 shares in the company for HK$192 million, at an average HK$384.18 per share, according to shareholding disclosures.

Lau's stake in Tencent has gone down to 52.19 million shares. The last time Lau sold his stake in the Chinese internet giant was in March 2018, when he sold one million shares for HK$430 million for an average of HK$434.36 per share.

Source: The Standard

https://www.thestandard.com.hk/section- ... ak-jitters
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Re: Tencent 0700 03 (Aug 18 - Dec 20)

Postby winston » Thu Mar 19, 2020 8:43 am

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Virus fears as Tencent net rises 19pc to 93b yuan

by Stella Zhai

Tencent's (0700) net profit last year rose 19 percent from a year ago to 93.31 billion yuan (HK$103.2 billion), within market estimates, but warned the payment and the cloud businesses would be affected by the virus.

Non-IFRS net profit last year was 94.35 billion yuan, a 22 percent growth from 2018.

Basic earnings per share were 9.856 yuan and a final dividend of HK$1.20 per share was declared.

Revenue for 2019 grew 21 percent to 377.2 billion yuan, with online game revenues up 10 percent to 114.7 billion yuan.

The combined monthly active user accounts of Weixin and WeChat grew 6.1 percent from 2018 to 1.165 billion, with the smart device MAU for QQ sliding 7.5 percent to 647 million.

Its fourth quarterly earnings missed estimates, after China's economic slowdown eroded its core gaming business and video content costs spiked.

Net income surged by 52 percent year-on-year to 21.6 billion yuan in the quarter ended December, compared with the average analysts' estimate of 22.8 billion yuan, while non-IFRS net profit was 25.48 billion yuan, rising 29 percent year-on-year.

Revenue in the quarter rose 25 percent year-on-year to 105.8 billion yuan, with smartphone games revenue rising 37 percent to 26 billion yuan but PC client games revenue down 7 percent to 10.4 billion yuan.

Martin Lau Chi-ping, president of Tencent expected the cloud business would be challenged with slower economic activities, but said it would recover as demands for remote working and medical services increase in the longer run.

The pandemic has also impacted revenues from payment services in the short term, he said, but predicted the drop would be offset as people resume their work this month.

The daily active user accounts of Tencent Meeting have exceeded 10 million within two months since its launch last December as more people work from home, the company said.

Lau said the social advertising revenue, which takes over 80 percent of the total advertising revenue, has seen growth during the epidemic, but media advertising revenue was impacted.

Hong Kong's equity traders have been buying Tencent derivatives to protect against losses, with bearish puts now costing the most in four years relative to bullish contracts.

However, mainland traders have remained bullish, boosting their holdings by 24 percent since the start of the year. They own about 2.3 percent of Tencent's listed shares, the highest proportion in at least three years, according to data compiled by Bloomberg.

Source: The Standard

https://www.thestandard.com.hk/section- ... o-93b-yuan
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Re: Tencent 0700 03 (Aug 18 - Dec 20)

Postby winston » Tue May 05, 2020 11:20 am

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<Research Report>Nomura Adds TENCENT (00700.HK) TP to $500 on Expected 1Q20 Results Beat

Nomura in its report anticipated TENCENT (00700.HK) to deliver better-than-expected 1Q20 results, mainly attributable to strong mobile gaming and social advertising businesses.

Non-GAAP EPS was assumed at RMB2.73, up 25% yearly and 9% ahead of the consensus.

The broker retained Buy on TENCENT at the target price HKD500, added from HKD440, with 2020/ 2021 EPS estimates revised up by 3%/ 2% to reflect raised mobile gaming revenue forecasts.

Source: AAStocks Financial News
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Re: Tencent 0700 03 (Aug 18 - Dec 20)

Postby winston » Thu May 14, 2020 7:19 am

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Tencent books 28.8b yuan quarterly profit

Tencent Holdings (0700) reported today net profit increased by 6 percent from the year before to 28.89 billion yuan for the first quarter of 2020.

Revenues for the quarter ended March 31, increased by 26 percent on-year to 108.1 billion yuan.

The basic earnings per share were 2.85 yuan.

Fintech services revenue fell sequentially as payment activities, especially offline transactions, and cash withdrawals dropped during the Chinese New Year and stay-at-home period, Tencent said.

Revenues from online advertising increased by 32 percent to 17.71 billion yuan. Social and other advertising revenues grew by 47 percent to 14.59 billion yuan.

Source: The Standard

https://www.thestandard.com.hk/breaking ... rly-profit
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Re: Tencent 0700 03 (Aug 18 - Dec 20)

Postby winston » Thu May 14, 2020 9:42 am

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Tencent (700 HK)
1Q20: Solid Beat; Strong Bottom Line Despite Challenging Environment


Tencent reported solid 1Q20 results.

Rev grew 26% yoy to Rmb108b, beating street estimates by 7%, driven by better-than-expected growth in online games and advertising.

Gross margin improved by 2.3ppt yoy to 48.9%.

Non-GAAP net profit grew 29% yoy to Rmb27.1b, beating consensus estimate by 9%.

Non-GAAP diluted EPS came in at Rmb2.82.

Maintain BUY and lift our target price to HK$515.00 from HK$475.00.

Source: UOBKH

https://research.uobkayhian.com/content ... 9c1bd2e363
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Re: Tencent 0700 03 (Aug 18 - Dec 20)

Postby winston » Sat May 16, 2020 7:42 am

Tencent virus shutdown gains may not last, analyst says

Morningstar predicts that strong first-quarter results for Tencent (0700) generated from more leisure time spent at home due to the virus shutdowns, will not continue for the rest of the year.

"The stronger growth in Tencent's online games amid the coronavirus wouldn’t materially accelerate long-term user adoption due to the already large user base, and we expect strong online games grossing attributed to the virus to completely normalize in early May," Chelsey Tam, Morningstar’s senior equity analyst, wrote in the latest report.

Meanwhile, Tencent also recorded a 32 percent year-on-year growth in advertising revenue in the first quarter, ahead of analysts' expectations, and they do not expect such a favorable mix shift will continue as the pandemic situation normalizes.

Morningstar maintained its target price of HK$460 per share for Tencent, viewing the shares as fairly valued.

Source: The Standard
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Re: Tencent 0700 03 (Aug 18 - Dec 20)

Postby winston » Wed May 27, 2020 8:08 am

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Tencent plans to sell billions of dollars in bonds globally

HONG KONG: Chinese social media and gaming giant Tencent Holdings is testing the market's appetite for a U.S. dollar bond deal it plans to offer, according to a term sheet reviewed by Reuters.

The company said in a statement on Monday it planned to conduct an international offering of notes under a programme to certain professional investors and would use the proceeds raised for general corporate purposes.

The previously announced programme had a maximum limit of $20 billion, of which $12 billion of notes were already outstanding, the company said in a separate statement.

The limit means future deals for Tencent would have to be under $8 billion.

Tencent hired Bank of America, HSBC, Morgan Stanley and Goldman Sachs as join global co-ordinators and the banks would lead a series of calls with fixed income investors on Tuesday, according to the term sheet.

Tencent and its advisers briefed Asian investors early on Tuesday and were due to speak with potential U.S. and European buyers at 11 p.m. Hong Kong time (1500 GMT), a source with direct knowledge of the matter said.

The timing and size of a potential bond deal would be finalised after the company and its advisers assess the level of demand from investors, the source said.

The source could not be named as the information had not been made public.

Source: Reuters

https://www.thestar.com.my/business/bus ... y#cxrecs_s
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Re: Tencent 0700 03 (Aug 18 - Dec 20)

Postby winston » Fri Jul 24, 2020 1:06 pm

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Jul 17, 2020

<Research Report>C Suisse Lifts TENCENT (00700.HK) TP to $641; 2Q Adjusted Profit May Grow 30%

TENCENT (00700.HK) will unveil its 2Q20 results in mid-August, Credit Suisse mentioned in its report.

The revenue and adjusted net profit were expected to grow 27% and 30% YoY to RMB112.9 billion and RMB30 billion.

Credit Suisse remained upbeat on TENCENT's resilient momentum from mobile games and social ads.

The mobile game revenue was estimated to increase 50%, driven by strong sales of flagship titles, deferral revenue carried from 1Q and overseas contribution.

The rating was kept at Outperform with target price added to $641 from $540.

Source: AAStocks Financial News
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Re: Tencent 0700 03 (Aug 18 - Dec 20)

Postby winston » Fri Jul 24, 2020 1:07 pm

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<Research Report>UBS Adds TENCENT (00700.HK) TP to $650; Rated Buy

UBS raised TENCENT (00700.HK)'s target price to $650 from $520 with rating kept Buy.

The stock is the top large cap picks of the broker, which expected its mobile games to shore up the earning growth to 28.7% CAGR in 2019-22E.

The broker estimated TENCENT's mobile games to post a 45% revenue growth YoY in 2Q20 to RMB32.19 billion; social networks to deliver a 21% revenue growth YoY to RMB25.167 billion; and ads to report a 8% revenue growth YoY to RMB17.719 billion.

Source: AAStocks Financial News
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