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BOCI: TENCENT Remains Cautious and Flexible Despite Upsurge in AI Investment
2026-07-30 12:30:13
TENCENT (00700.HK) has continued to ramp up its AI investment in recent years. BOCI said in a report that investors are increasingly focused on TENCENT's EPS forecasts and returns on AI investment.

The broker forecast TENCENT's cash capex to whop RMB160-180 billion in 2026, contingent on supply chain dynamics, but believed the company would maintain a prudent investment pace to preserve business flexibility.

BOCI said TENCENT's core businesses, especially gaming, will continue to show resilience in the coming quarters, backed by its evergreen game portfolio and extensive game pipeline. It maintained the Buy rating on TENCENT and HKD655 TP unchanged.
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