Zhongtong Financial News APP learned that CICC released a research report stating that Tencent (00700) is the bank's industry first choice with an "outperform the market" rating. The bank expects Tencent's performance to be robust in the second quarter of 2024, with total revenue expected to increase by 8% YoY to reach RMB 161.6 billion, and adjusted operating profit to increase by 24% YoY to reach RMB 57.1 billion, driven by the rebound in gaming and strong growth in advertising.

The bank expects gaming revenue to increase by 7% YoY with the revival of major games and the strong debut of Dungeon & Fighter Mobile (DNF Mobile). The enhancement of Video Number and advertising technology should continue to support advertising growth, and its profit margin is expected to maintain an upward trend. The bank believes that gaming revenue will accelerate growth in the second half of 2024.