Zhongtai Securities: AI is being laid out around core strengths and is also expected to be "latecomers first" Tencent Holdings (00700.HK) has reiterated its "buy" rating.

Zhixin Finance APP learned that Zhongtai Securities released a research report stating that Tencent Holdings (00700.HK) released its first quarter report for 2026. In 1Q26, the company achieved a total revenue of 196.5 billion yuan, an increase of 9% compared to the same period last year, and a 1% increase quarter-on-quarter; Non-IFRS operating profit was 75.6 billion yuan, an increase of 9% year-on-year and quarter-on-quarter; Non-IFRS net profit was 67.9 billion yuan, an increase of 11% year-on-year and 5% quarter-on-quarter. Considering the continuous increase in investment in the AI field, it is expected that the company's revenue for 2026-2028 will be 835.4 billion yuan, 923.8 billion yuan, and 102.1 billion yuan, respectively, with adjusted net profits of 270.7 billion yuan, 297.5 billion yuan, and 326.2 billion yuan (previously 280.8 billion yuan, 312.4 billion yuan, and 346.8 billion yuan). The "buy" rating is maintained.