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Haitong Intl: TENCENT WeChat AI Agent Testing to Support Share Price Rally; Rating Outperform Reiterated
Recommend 26 Positive 46 Negative 21 |
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Haitong International published a research report citing the UK's Financial Times that TENCENT (00700.HK) is internally testing a prototype of its WeChat AI Agent and plans to initiate the compliance approval process as early as this month. After obtaining regulatory approval, TENCENT will reportedly first conduct small-scale grey testing before a phased full rollout, although the official launch timing remains uncertain. The report noted that the launch of the AI Agent carries the highest strategic priority within TENCENT. The current prototype is able to execute tasks smoothly, but computing power constraints remain the main obstacle to large-scale commercial deployment. Spurred by this positive news and short squeeze, TENCENT's share price proliferated 10.5% in a single day yesterday (2nd). Following the rebound, the stock is still trading at 14x 2026E PE. Given its attractive valuation and solid fundamentals, Haitong International believed that despite potential short-term volatility, the current rally is sustainable. WeChat has tremendous potential in the practical application of AI Agents. With 1.4 billion users, a well-established mini-program ecosystem, and interface support from Tencent Cloud, it enjoys lower customer acquisition costs, extensive data access, and lower interface costs compared with peers. The broker maintained its Outperform rating on TENCENT with a TP of HKD688. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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