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<Research>Haitong Int'l: TENCENT (00700.HK) Expected to Deliver Solid 4Q25 Results w/ High-quality Growth Continuing This Yr
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Haitong International released a research report keeping rating at Outperform on TENCENT (00700.HK), with a target price of $700. The broker expected TENCENT to maintain solid performance in 4Q25 results, and was optimistic about its high-quality growth continuing into FY2026.

Haitong International largely maintained its 4Q25 results forecast for TENCENT, projecting total revenue of RMB195 billion, up 13% YoY, with non-IFRS operating profit expected to be RMB68 billion, representing a 15% YoY increase.

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