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It's interesting how unloved the China tech companies are at the moment.
Tencent market cap of about USD390B is less than 15% of Apple's and even lesser than Visa of USD500B. almost the same as Master's USD380B.
Tencent 2023-Q2 result:
https://static.www.tencent.com/uploads/2...d667ef.pdf
Although Games revenue has been stagnant from 2021 till 2023-Q2, with new games not performing well although more exciting pipelines are coming (eg: Black Wukong, Valorant in China etc).
But looking back at how tough the regulatory environments were since 2021, their result is respectable.
The regulatory is now back to be backing them instead of smashing them (guess it'd take a long time to rebuild the repo after you hit people in the face).
The Ads revenue is growing again, it's usually the canary of the economy turning corner.
The Fintech Biz revenue is also growing again, faster than my expectation as the regulatory issues were concluded with the fine to Tenpay.
Tencent future, to me, is getting far better and yet its price is still languishing in low point.
IMHO, this provides 2 advantages to Tencent shareholders:
1) Ample time for shareholders to build up their stakes with chances to pick up when price dropped substantially (there are many such sessions).
2) Buying back undervalued shares, which they have been doing well by fetching substantial shares below HKD400 (partly thanks to Prosus).
<vested, core>
Tencent market cap of about USD390B is less than 15% of Apple's and even lesser than Visa of USD500B. almost the same as Master's USD380B.
Tencent 2023-Q2 result:
https://static.www.tencent.com/uploads/2...d667ef.pdf
Although Games revenue has been stagnant from 2021 till 2023-Q2, with new games not performing well although more exciting pipelines are coming (eg: Black Wukong, Valorant in China etc).
But looking back at how tough the regulatory environments were since 2021, their result is respectable.
The regulatory is now back to be backing them instead of smashing them (guess it'd take a long time to rebuild the repo after you hit people in the face).
The Ads revenue is growing again, it's usually the canary of the economy turning corner.
The Fintech Biz revenue is also growing again, faster than my expectation as the regulatory issues were concluded with the fine to Tenpay.
Tencent future, to me, is getting far better and yet its price is still languishing in low point.
IMHO, this provides 2 advantages to Tencent shareholders:
1) Ample time for shareholders to build up their stakes with chances to pick up when price dropped substantially (there are many such sessions).
2) Buying back undervalued shares, which they have been doing well by fetching substantial shares below HKD400 (partly thanks to Prosus).
<vested, core>
My views are your Gilbert & Sullivan's:
"The flowers that bloom in the spring, have nothing to do with the case".
"The flowers that bloom in the spring, have nothing to do with the case".