Goldman Sachs: Maintains "buy" rating on TENCENT (00700), bullish on WeChat ecosystem and global gaming assets.

Goldman Sachs released a research report stating that they recently had business exchanges with TENCENT's management team. They believe that Tencent Cloud is strengthening its expansion into key markets such as ASEAN, Northeast Asia, Europe, the Middle East, and the Americas. They have secured multiple large project orders, along with their localization infrastructure, which is expected to help increase brand awareness in the international market. They maintain a "buy" rating with a target price of HKD 770. The bank also pointed out that Tencent, as a beneficiary of AI applications in the Chinese internet sector, believes that AI has empowered its long-term growth in all core businesses. They believe that with Tencent's unique WeChat ecosystem and global gaming assets, coupled with diversified monetization capabilities, they can achieve profitable compound growth.