Anxin International released a research report that maintained Tencent's "buy" rating, with a target price of HK $400, with room for an increase of 31.2%. In 2022, Q2 company earned 134 billion yuan in revenue, down 3.1% from the same period last year. Adjusted net profit fell 17.3% to 28.1 billion yuan. Revenue was slightly lower than the bank's expectations, and profit performance exceeded market expectations. Looking forward to the future, the bank believes that with the promotion of cost reduction and efficiency, the company's profit margin is expected to further improve, while the acceleration of the commercialization of video also brings new growth drivers.