html On August 1, the share price of Tencent Holdings (00700.HK) touched a low of HK$300 many times, setting a new low in the 60th day. As of the close, the share price of Tencent was 299.6 Hong Kong dollars, down 2.35%, with a total market value of 2.88 trillion Hong Kong dollars. An agency chief economist told reporters that the Hong Kong stock market continues to be disturbed by various uncertainties. In the short term, the Hong Kong stock market and important component stocks of the index will still have large fluctuations. Specific to Tencent Holdings itself, this person told reporters that Tencent's stock price fluctuations are mainly related to the market's wait-and-see sentiment, and have little to do with the fundamentals of stocks and .
On the last trading day last week, Hong Kong stocks fell across the board, and the Hang Seng Technology Index fell sharply. It once fell by more than 5% during the session. As of the close, the Hang Seng Index fell 2.26% to 20156.51 points; the Hang Seng Technology Index fell 4.86% to 4331.19 points.
The second quarter report of 2022 has begun, and various banks have successively issued forward-looking forecasts for Tencent’s second quarter performance. Among them, CITIC Securities issued a report predicting that Tencent’s revenue in Q2 would be 132 billion yuan, a year-on-year decrease of 4.6%. Game business revenue is expected to be 42.6 billion yuan, down 1% year-on-year. It is expected that with the launch of new games, the game business is expected to stabilize. In addition, the bank expects Q2 Tencent social network revenue to be 29.8 billion yuan, a year-on-year increase of 2.8%. Advertising business revenue was 15.6 billion yuan, down 31.7% year-on-year. financial technology and enterprise services business revenue was 42.3 billion yuan, a year-on-year increase of 1%.
CITIC Securities believes that Tencent’s stock price has entered the value investment range. As the macro economy stabilizes, the commercialization of video accounts accelerates, and new games are launched one after another, the company’s performance is expected to gradually resume growth. Maintain Tencent buy rating , target price 424 Hong Kong dollars.
In addition, HSBC Research published a research report stating that in view of the challenging industry prospects, Tencent’s forecast has become more conservative, and Tencent’s domestic and international game revenue growth rates this year have been lowered to flat and down 4% respectively. At the same time, it is believed that the cloud business will focus on improving profitability, which will have an impact on operations in the next year. Therefore, the revenue growth rate of Tencent Cloud business this year and next will be reduced to 5% year-on-year and 2% year-on-year, and will be reduced to 2022. ’s advertising revenue forecast was lowered to an 18% year-on-year decline. Tencent's revenue forecast from 2022 to 2024 is reduced by 2% to 8%, its profit forecast is reduced by 6% to 9%, and the target price is lowered from HK$520 to HK$475, maintaining a buy rating.
On March 8 this year, some netizens called Duan Yongping on a social forum: "Tencent has 388 Hong Kong dollars, so you can continue to add positions." Duan Yongping replied, "I plan to add positions every 10%." But he also agreed. At that time, he said that Tencent's proportion of his position and was "very low", and it was not currently attractive enough to him to sell other positions for exchange. Therefore, he only used a 9%-11% decline as the standard for adding positions, but if the stock price " If you drop it a few more times, you’ll have to think about it seriously.”
focuses on Hong Kong stock investment. Recently, Guosen Securities released a research report stating that the world is entering a period of stagflation. Strategically, the oversold of Hong Kong stocks is the main contradiction. Tactically, we cannot ignore the new risks brought by the possibility of overseas recession. Guosen Securities believes that Hong Kong stocks have four major reasons to look forward to in the second half of the year: there is sufficient time and space for declines; the Internet policy bottom has been reached; the valuation has obvious advantages compared with A shares ; buybacks of listed companies increase confidence.
