Kill Two Birds With One Stone: Tencent to Charge Weixin Payment Users Fees for Cash Withdrawal

This Chinese Internet Giant Is Riding the Mobile Wave.

Tencent Retains Financial Leadership in Chinese Internet with Strong 4Q15 Results

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Equity Bottom-Up

<p>The market seems to view <a href="https://www.smartkarma.com/entities/26" target="_blank" data-smartkarma-citation="entities:26">Tencent Holdings Ltd</a> (Tencent) as an online games company which also owns WeChat (the WhatsApp of China). We think this under represents the potential at Tencent. For a start Tencent also owns mobile QQ and the two platforms have the highest number of monthly active users (MAU) and highest average usage in China. Tencent is able to monetize directly through games and indirectly through high user engagement. Tis high level of engagement is attractive to advertisers while evolving advertising technology (Adtech) should enhance growth prospects. We expect Tencent's ad growth top be 3x that at <a href="https://www.smartkarma.com/entities/179" target="_blank" data-smartkarma-citation="entities:179">Baidu Inc Spon Adr</a> (BIDU) in the next 5 years, mirroring the experience of Facebook vs Google in the US. </p><p>Tencent remains a key thematic idea at New Street Research as it increasingly monetizes its vast user base. The current share price correction looks like an opportunity.</p>

The market seems to view Tencent Holdings Ltd (Tencent) as an online games company which also owns WeChat (the WhatsApp of China). We think this under represents the potential at Tencent. For a start Tencent also owns mobile QQ and the two platforms have the highest number of monthly active users (MAU) and highest average usage in China. Tencent is able to monetize directly through games and indirectly through high user engagement. Tis high level of engagement is attractive to advertisers while evolving advertising technology (Adtech) should enhance growth prospects. We expect Tencent's ad growth top be 3x that at Baidu Inc Spon Adr (BIDU) in the next 5 years, mirroring the experience of Facebook vs Google in the US. Tencent remains a key thematic idea at New Street Research as it increasingly monetizes its vast user base. The current share price correction looks like an opportunity.

Tencent의 다양한 플랫폼은 주요 이점을 제공합니다