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| HSI1 | 20,098.29 | +215.16 | 84.59B |
| HSCEI1 | 7,303.92 | +90.07 | 35.72B |
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2024-12-23 10:34:23 WeChat had announced last week that WeChat Mini Shop officially opened the gray-box testing of the “gifting” function. Apart from the two major categories of commodities, namely jewelry and education and training, other categories of WeChat Mini Shop will be defaulted to support the “gifting” function, as long as the original prices of the commodities does not exceed RMB10,000. WeChat Mini Shop added new “gifting” function cleverly with the form of user interaction, highlighting the advantages of the WeChat ecosystem, CICC commented in a report. Such commercialization objectively did not have too much disturbance and consumption of users. The broker considered that the function may accelerate the penetration rate of WeChat Mini Shop, and the progression of WeChat e-commerce strategy. However, the development of WeChat Mini Shop may not be nailed by a single product innovation, and the final landing remains to be observed. TENCENT (00700.HK)'s non-IFRS P/E valuation of 14x for FY2025 gave investors a large margin of safety against the backdrop of a general downturn in macro-sentiment, CICC opined. Meanwhile, WeChat e-commerce progress proves once again that TENCENT has certain growth potential and is expected to bring investors sustainable returns in the long term. Therefore, the broker maintained TENCENT’s FY2024 and FY2025 revenue and profit forecasts, and set its target price for H-shares at $468, maintaining its Outperform rating. ~ AAStocks Financial News Web Site: www.aastocks.com | |