Glonghui, April 8 | CITIC Securities published a research report. It is expected that Tencent will usher in multiple positive catalysts in the near future. Among them, in terms of trading, the bank expects that the majority shareholders' holdings reduction will continue to narrow. Coupled with a sharp increase in the company's repurchase amount, it will help ease market concerns about Tencent's transactions. Furthermore, Tencent declared a dividend of HK$3.4 per share last year, an increase of 42% year-on-year. The repurchase amount at least doubled to more than HK$100 billion, and the combined return on dividends and repurchases in 2024 based on current market capitalization reached 4.8%. CITIC Securities said it is optimistic about strengthening the competitiveness of Tencent's main business, promoting continued growth, maintaining a “buy” rating, target price of HK$398, and maintaining non-IFRS net profit forecasts of $184.5 billion, $207.4 billion and $228.3 billion from 2024 to 2026.