The Zhitong Finance App learned that Xiaomo released a research report stating that it maintains Tencent Holdings' (00700) “increase holdings” rating, with a target price of HK$410. Tencent's performance last quarter had limited impact on recent stock prices. Views on the company's stock price outlook for this year remain positive. After rising 28% year-to-date, it is expected that its stock price will have room for further growth, mainly due to re-evaluation of valuation multipliers and a strong gaming product line, which led to positive revisions in earnings.

The report mentioned that due to weak consumption by gamers, the slowdown in entertainment/advertising monetization, and the immediate suspension of payment/cloud projects and other activities after the reopening of the mainland, it is expected that revenue performance in the fourth quarter of last year will be weak, and it is believed that the slowdown in revenue growth will also affect the recovery of profit growth, but due to efforts to optimize costs, it is estimated that the increase in profitability should continue until now.