Tencent Holdings – Getting Its House In Order

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Silver Point

Thomas J. Monaco

Silver Point is a boutique research firm that focuses on the broader financial services sector, with a particular focus on troubled institutions globally. 

Asia Ex Japan

Equity Bottom-Up

<ul>
<li>The US Trade Representative (“USTR”) office added Tencent and Alibaba Group to the US government's latest "notorious markets" list; </li>
<li>Similar to being implicated in running afoul of regulators in mainland China, Tencent “strongly disagrees” with the USTR label; and</li>
<li>*We look forward to Tencent’s 4Q21 results announcement on March 23, 2021 where management will continue to refuse to discuss anything meaningful.</li>
</ul>


The US Trade Representative (“USTR”) office added Tencent and Alibaba Group to the US government's latest "notorious markets" list; 
Similar to being implicated in running afoul of regulators in mainland China, Tencent “strongly disagrees” with the USTR label; and
*We look forward to Tencent’s 4Q21 results announcement on March 23, 2021 where management will continue to refuse to discuss anything meaningful.


Tencent Holdings – Bad News On The Doorstep