[Tencent (700 HK, BUY, TP HK$450) TP Change]: "DNF Mobile" And Strong Ads Are Two Catalysts
We expect that Tencent's 2Q23’s rev./non-IFRS net income to be 0.2%/5.2% vs cons. We raise the TP to $450, which implies 20.1X PE in 2023.
337 Views
China Internet Weekly (10Jul2023): Meituan, Alibaba, Ant Group, Tencent
Meituan’s food delivery has taken 20% of the Hong Kong market share. The authorities suggests that they will not further restrict financial apps.
1.4k Views
Socionext Placement - Valuation More Reasonable but past Secondary Offerings Have a Mixed Record
Three shareholders of Socionext (6526 JP) aim to raise around US$1.4bn via selling all of their shares in Socionext. In this note, we look at the...
548 Views
Hong Kong Connect Flows (Jul 7th): China Mobile, ICBC, ABC, Tencent, HSBC, BYD
We analyzed the Hong Kong Connect Scheme for last week and highlight flows for China Mobile, ICBC, ABC, Tencent, HSBC, BYD.
750 Views
HK Short Interest Weekly: Luye Pharma, Baba, Li Auto
We analyzed the latest HK SFC report for aggregate short position as of Jun 30th and highlight short interest changes in Luye Pharma, Baba, Li Auto.
334 Views