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Tencent's market value exceeds 7 trillion yuan and it is said to acquire Canadian game player Citigroup optimistic about WeChat's price increase by 876 yuan

2021-01-25T02:31:41.599Z

Tencent (0700) rose sharply at the opening of the market on Monday, reaching a high of 735.5 yuan, with a market value of more than 7 trillion yuan, further out of the Alibaba (9988) market value of about 5.5 trillion yuan. Citigroup recently raised its target price for Tencent from 734 yuan to 876



Financial News

Written by: Ou Jiajun

2021-01-25 10:18

Last update date: 2021-01-25 10:18

Tencent (0700) rose sharply at the opening of the market on Monday, reaching a high of 735.5 yuan, with a market value of more than 7 trillion yuan, further out of the Alibaba (9988) market value of about 5.5 trillion yuan.

Citigroup recently raised its target price for Tencent from 734 yuan to 876 yuan. It is optimistic about the prospects for the continued growth of WeChat revenue, the continuous increase in global game market share, and the growth of corporate customer business.

The bank pointed out that as WeChat enters its 11th year of operation, its super application ecosystem is becoming stronger and more profitable from multiple dimensions such as search, trading, and video social networking. It is optimistic about the prospects for the next 10 years.

According to media reports, the well-known Canadian independent game developer Klei Entertainment has transferred most of its shares to Tencent and is no longer independent, but retains the autonomy of IP and various operations.

Klei has produced a series of popular independent games such as "Famine", "Hypoxia", and "Fraud Land". Among them, "Famine" and "Hypoxia" landed on Tencent's WeGame game platform in 2016 and 2017 respectively.

All games of this developer on Steam are adapted to Simplified Chinese, focusing on the Chinese market.

Tencent M&A

Source: hk1

All news articles on 2021-01-25

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