Morningstar - Tencent Holdings Ltd. (00700) Tencentâ€™s Honor of Kings Was Criticized by Peopleâ€™s Daily; Maintain FVE

Report

Morningstar

Marie Sun

EUR 101.80 For Business Accounts Only

Tencentâ€™s Honor of Kings Was Criticized by Peopleâ€™s Daily; Maintain FVE

Tencentâ€™s share price tumbled following Peopleâ€™s Dailyâ€™s critical report about its most popular mobile game, Honor of Kings. However, we anticipate a limited impact from limiting minorsâ€™ playing time, and we maintain our fair value estimate of HKD 311 per share and USD 40 per ADR for wide-moat Tencent.
Different data sources reported a different percentage of young players for Honor of Kings, as per our observation. Baidu Index showed that players younger than 19 comprised about 3% of total play...

05/07/2017 16 EN

Underlying

Tencent Holdings Ltd.

Tencent Holdings Limited is an investment holding company principally involved in the provision of value-added services (VAS) and online advertising services. The Company operates through three main segments. The VAS segment is mainly involved in provision of online/mobile games, community value-added services and applications across various Internet and mobile platforms. The Online Advertising segment is mainly engaged in display based and performance based advertisements. The Others segment is mainly involved in provision of payment related services, cloud services and other services.

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KYG875721634 Hong Kong Stock Exchange Cayman Islands

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Marie Sun

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Tencentâ€™s Honor of Kings Was Criticized by Peopleâ€™s Daily; Maintain FVE

PSA Media & Entertainment: Tokyo Game Show Line-Up

CoreWeave profitability; DeepSeek’s ASIC try; Semicap; PC pull-forward and more.

Tencent 2Q25 Results: Rev Growth Momentum to Continue in 3Q

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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