CITIC SEC: Maintains "buy" rating on TENCENT (00700) and sees potential for continued profit release.

CITIC SEC released a research report stating that it is optimistic about the potential of continuous profit release for TENCENT (00700). It predicts that 3Q24 will achieve a revenue of 167.5 billion yuan (an increase of 8.3% compared to the same period last year) and a Non-IFRS net profit of 53 billion yuan (an increase of 18.0% compared to the same period last year). The performance will maintain a high-quality growth trend, and the rating of "buy" will be maintained. In addition, the bank expects that Tencent will continue its high-quality growth pattern with the rapid development of high-margin businesses such as Video Number, mini games, and search advertising, the resurgence of gaming commercialization capabilities, the multiplier effect of artificial intelligence, and the continuous promotion of cost reduction and efficiency improvement strategies.