Original title: Quick Look | Tencent’s market value hits a new high: Breaking 7 trillion Hong Kong dollars, exceeding the sum of the six state-owned banks
Image source: Visual China
Reporter | Yuan Weiteng
Reporter | Yuan Weiteng
On January 25, Jiemian News learned that the Hong Kong stock Tencent Holdings continued to rise after the opening, opening at 707 Hong Kong dollars. As of press time, it was reported at 746 Hong Kong dollars. The intraday Zhang exceeded 7%, setting a new record high. The total market value exceeded 7 trillion Hong Kong dollars. The RMB is about 5.85 trillion yuan.
For comparison, if calculated according to the closing price of last Friday, the total market value of the six state-owned banks, Industrial and Commercial Bank, Construction Bank, Agricultural Bank, Bank of China, Postal Savings Bank, and Bank of Communications, is 5.69 trillion yuan, which shows the market value of Tencent Holdings. Has surpassed the combined market value of the six state-owned banks.
Today, the Hang Seng Technology Index also broke through 10,000 points for the first time, an increase of over 3%. Internet companies including Tencent Holdings (00700.HK), Meituan (03690.HK), Alibaba (09988.HK) and Xiaomi Group (01810.HK) all surged.
Earlier today, Citigroup released a research report, maintaining Tencent’s “Buy” rating, and raising Tencent Holdings’ target price from HK$734 to HK$876 by 19%. Citigroup said that it is optimistic about the prospects for the continued growth of WeChat revenue, the continuous increase in global game market share and the growth of its corporate client business.
According to a report from Sina Hong Kong Stocks, Citi mentioned in another report released a few days ago that the number of daily active users (DAU) of WeChat Mini Programs has reached 400 million, which is 25% higher than the average number of Mini Programs per user last year. The amount has also more than doubled year-on-year, and the average transaction amount per user has also increased by 67% year-on-year. The report predicts that in 2021, WeChat Mini Programs will have further improvements in terms of context, operations, data analysis, operation support and credit improvement.
Citigroup also pointed out that as WeChat enters its 11th year of operation, its super application ecosystem is becoming stronger and more profitable from multiple dimensions such as search, trading, and video social interaction. It is optimistic about its prospects for the next 10 years.
According to Tencent’s third-quarter financial report released last year, revenue was 125.447 billion yuan, a year-on-year increase of 29%, and net profit was 38.542 billion yuan, a year-on-year increase of 89%. Both revenue and net profit exceeded market expectations. Tencent has not yet announced the fourth quarter and full year financial reports of last year, but according to a Morgan Stanley research report, Tencent Holdings’ revenue in the fourth quarter of last year is expected to be 129.2 billion yuan, a year-on-year increase of 22%.Return to Sohu to see more
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