Lates News

Morgan Stanley's research report pointed out that Tencent Holdings' mobile game "Valorant" is one of its most important new releases this year, with an expected annual revenue of 5 to 6 billion RMB. The firm also maintains a "buy" rating on Tencent and a target price of 650 Hong Kong dollars. The report shows that the launch of "Valorant" mobile game was earlier than expected, with pre-registration numbers exceeding 50 million by July, which is expected to alleviate the high base effect brought by the mobile game "Dungeon and Warriors" during the same period last year. In addition, Tencent's classic games "Honor of Kings" and "Peacekeeper Elite" showed strong performance in the second quarter, with revenues increasing by 13% and 5% year-on-year respectively.