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TCH OCT4 News
Tencent Holdings (0700.HK): Weekly Report
Tencent Holdings (700.HK): Tencent's advertising business ecosystem value has increased since Tencent and Alibaba reached a cooperation. Advertisements from Taobao and Tmall are now being embedded in the content of WeChat public accounts, Moments, and Video accounts. Users do not need to leave WeChat.
Hong Kong stocks continued to rise strongly in the afternoon! The Hang Seng Index and the H-Share Index rose more than 2%, while the Technology Index surged more than 3%; large technology stocks are all performing well, with jd.com up more than 7% and Mei
The three major stock indexes in Hong Kong rose unilaterally throughout the day, with a surge in market bullish sentiment. The Hang Seng Tech Index continued to climb in the afternoon, leading the way with a sustained increase of 3.8%, ultimately closing significantly higher at 3.25%, reaching a two-month high. The Hang Seng Index and the Mainland China Stock Index rose by 2% and 2.1% respectively.
Citi: Among e-commerce stocks, we prefer Meituan-W (03690) and Tencent Holdings (00700) more than Alibaba-SW (09988).
According to Daiwa, due to slowing growth and intense competition, Alibaba's valuation should be lower than other Chinese internet peers.
Sensor Tower: In August, Chinese manufacturers accounted for 37.3% of the revenue of the top 100 mobile game publishers in the world.
Sensor Tower's Store Intelligence platform shows that in August 2024, a total of 34 Chinese manufacturers made it to the top 100 global mobile game publishers' revenue list.
Goldman Sachs: Mainland China's e-commerce participation in August increased by 8%, and Alibaba's DAU share remained stable at 41%.
Goldman Sachs released a research report, indicating that according to the statistics from QuestMobile, the total usage time of the top 400 mobile applications (APPS) in China increased by 6% YoY in August this year, faster than the 4% growth in July. The growth rate of e-commerce APPs reached 8%, slower than the 15% growth in July, while gaming APPs slightly declined by 1% compared to the same period last year. Specifically, user engagement on e-commerce platforms remains robust, with JD.com (09618.HK)(JD.US) and PDD Holdings (PDD.US) experiencing YoY growth in usage time of 24% and 16% respectively, while Alibaba's (0
Bank of China International: The total retail sales of consumer goods in August meet expectations, bullish on Tencent Holdings (00700) and JD.com Group-SW (09618).
BOCI Securities recommends Tencent Holdings (00700) as the top choice in the China internet plus-related industry.
Dahua Rating | Daiwa: Tencent and Ctrip are the first choice among mainland technology companies, and Meituan's target price has been raised to HK$160.
On September 19th, Ganglonghui released a research report stating that among mainland technology companies, Tencent and Ctrip are the preferred choices, followed by Meituan, PDD Holdings, and Alibaba. The target price for Meituan has been raised from HKD 145 to HKD 160. The firm has noticed the main positive factors of Meituan and Ctrip, and believes that Ctrip's hotel business is ready to further improve its market share in the next two years, with the main catalyst being the increase in revenue contribution from international tourism business; while Meituan's total transaction volume of in-store commodities recorded a year-on-year growth of over 40% in July and August, and its food delivery business has seen economical improvement due to lower delivery costs.
Tencent Could Leverage AI for Internal Growth -- Market Talk
Hong Kong stocks are volatile | The Hang Seng Index rose more than 3.5% in the afternoon, as the Federal Reserve announced aggressive interest rate cuts, leading internet companies started a wave of dividend repurchases.
The Hang Seng Tech Index fluctuated and rose throughout the day, rising more than 3.5% at one point in the afternoon. As for the constituent stocks, as of the time of publication, jd.com-S (09618) rose 6.52%, closing at HKD 111.1; Kuaishou-W (01024) rose 5.23%, closing at HKD 42.25; Alibaba-W (09988) rose 3.62%, closing at HKD 85.85; Meituan-W (03690) rose 3.73%, closing at HKD 133.4; Tencent (00700) rose 2.21%, closing at HKD 388.4.
In the book 'Da Hang', Bank of China International predicts that jd.com (09618.HK) will become the main beneficiary of the 'trade-in' policy for household appliances, while Tencent (00700.HK) is the preferred choice for the internet industry.
Bank of China International released a report stating that the National Bureau of Statistics announced the total retail sales of consumer goods for August on September 14. In August, the total retail sales of consumer goods increased by 2.1% year-on-year, which is in line with expectations. In the first eight months, online retail accounted for 25.6% of the total retail sales, which remained stable compared to July but decreased by 0.9 percentage points year-on-year. The bank suggested that Tencent (00700.HK) is the preferred choice in China's internet industry because it is expected that the company will benefit from providing cloud services to merchants and brands, while increasing advertising revenue from e-commerce. It is also expected that JD.com (09618.HK) will become a major player in the household appliance trade-in policy.
Daiwa raised the target price of Meituan (03690.HK) to 160 yuan, industry's top choice Tencent (00700.HK) and Ctrip (TCOM.US), etc.
According to a research report by Daiwa, among technology companies in mainland China, the top choices are Tencent (00700.HK) and Ctrip (TCOM.US) in a tie. They are followed by Meituan-Dianping (03690.HK), PDD Holdings (PDD.US), and Alibaba (BABA.US). The target price for Meituan has been raised from 145 yuan to 160 yuan. The report points out that the macro situation may continue to be a major disadvantage for mainland network technology stocks, citing negative impact on e-commerce this year due to a decline in the average order price and price competition. However, the report also highlights the main positive factors for Meituan and Ctrip, especially noting Ctrip's hotel business in the coming year.
Repurchase assembly on September 17th | Tencent Holdings, HSBC Holdings, and others have successively repurchased, with Tencent Holdings spending 1.001 billion Hong Kong dollars.
According to the documents disclosed by hkex on September 19, tencent holdings (00700.HK) and hsbc holdings (00005.HK) repurchased shares. ① Tencent Holdings (00700.HK) repurchased 2.64 million shares of common stock on September 17, involving an amount of 1.001 billion Hong Kong dollars, with a repurchase price ranging from 381.4 Hong Kong dollars to 372 Hong Kong dollars per share. Since the repurchase authorization resolution, the cumulative number of repurchased securities is 0.16 billion shares, accounting for 1.702% of the number of issued shares at the time of the ordinary resolution's approval. ② Hsbc Holdings (00005.HK) on September 1
Express News | The cumulative repurchase amount of Hong Kong-listed companies this year has exceeded HKD 200 billion.
Express News | Zhejiang Tencent Video Company plans to cancel
Selected Announcement | Germed Pharma announces entry into the field of weight loss drugs; Cathay Pacific Airways' passenger carried in August increased by 16% year-on-year.
On September 17th, Tencent spent 1.001 billion Hong Kong dollars to repurchase 2.64 million shares; Meituan spent approximately 0.161 billion Hong Kong dollars to repurchase 1.2636 million shares.
US stocks closed | S&P and Dow set new intraday highs, Chinese concept stocks performed well, li auto inc rose more than 12%.
In the late trading session, the US stock market saw a significant decline, but the S&P 500 index rose for the seventh consecutive day, and the Nasdaq and semiconductor index erased gains of more than 1%, with Intel rising 8% and closing up 2.7%, while Nvidia declined 1%. The Chinese concept index rose nearly 2%, and Li Auto Inc. rose more than 12%.
Express News | Tencent Holdings repurchased approximately 2.64 million shares on September 17th at a cost of approximately 1 billion Hong Kong dollars, with a repurchase price per share of 372-381.4 Hong Kong dollars.
Express News | Tencent: Repurchased 2.64 million shares on September 17, costing approximately 1 billion Hong Kong dollars.
"Da Hang" Bocom Intl's forecast for the third quarter and annual growth rate of overall commodity trade for large cap Chinese e-commerce (table)
Bocom Intl released a report listing the growth rate predictions for large cap commodity trade total transaction value of Chinese e-commerce companies in the third quarter and full year of 2024: Company│2023 Growth Rate│2024 Q3 Growth Rate Prediction│2024 Full Year Growth Rate Prediction alibaba (BABA.US)│1%│8%│8% jd.com (JD.US)│3%│7%│6% pdd holdings (PDD.US)│30%│15%│18% KWai (01024.HK)│31%│15%│17% TikTok│93%│No Prediction│50% WeChat Video Account(Tencent (00700.HK)│158%│
On September 16th, there were buybacks of tencent and Meituan-W, among which tencent spent 1.003 billion Hong Kong dollars.
According to the disclosure documents from hkex on September 17, tencent(00700.HK), meituan-W(03690.HK), etc. repurchased shares. ① tencent(00700.HK) repurchased 2.67 million ordinary shares on September 16, involving 1.003 billion Hong Kong dollars, with a repurchase price per share ranging from 377.8 Hong Kong dollars to 370.6 Hong Kong dollars. Since the repurchase authorization resolution, the cumulative number of repurchased securities is 0.158 billion shares, accounting for 1.674% of the number of shares issued when the ordinary resolution was passed. ② meituan-W(03690.HK) on