Bollore: 1 director

A director at Bollore bought 10,266,941 shares at 4.822EUR and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly sh...

Tencent 4Q25 Results: AI Investment to Partly Weigh Down Margins in FY...

What’s new: Tencent’s reported 4Q25 revs that were largely in line with consensus and above our expectations. Rev growth momentum could remain resilient in 1Q across key business segments. Tencent plans to at least double investments in AI to more than RMB36bn which could partly weigh down margins in FY26. We maintain our PT at HKD750. Analysts: Jin Yoon

Tencent Holdings (700 HK): 4Q25: In-line results; AI Empowers All Busi...

Tencent’s 4Q25 earnings came in better than expected. Revenue grew 15.4% yoy to Rmb192.9b, 2-3% ahead of our and consensus estimates. Gross margin expanded 3.3ppt yoy to 56.4%, in line with consensus forecasts. Non-IFRS operating profit grew 18.4% yoy to Rmb72.6b, while non-IFRS operating margin expanded 1ppt yoy to 37.6% on a positive shift in revenue mix. Non-IFRS diluted EPS ramped up 19.5% yoy, 6.5% higher than consensus estimates. Maintain BUY with a lower target price of HK$757.00.

Greater China Daily: Thursday, March 19, 2026

Top Stories Company Results | Fuyao Glass (3606 HK/BUY/HK$60.25/Target: HK$105.00) FYG’s 4Q25 GAAP net profit missed expectations at Rmb2,248m (+11.3% yoy/-0.5% qoq), due to forex losses. Stripping out one-off items, adjusted net profit met estimates at Rmb2,427m (+36.2% yoy/+4.0% qoq) on a yoy margin expansion. Its earnings outlook remains brilliant, backed by: a) continuous market share gain overseas, b) ASP increase on product mix optimisation, and c) its aluminium trim business. Maintain 20...

Regional Morning Meeting Notes: Thursday, March 19, 2026

Greater China Company Results | Fuyao Glass (3606 HK/BUY/HK$60.25/Target: HK$105.00) FYG’s 4Q25 GAAP net profit missed expectations at Rmb2,248m (+11.3% yoy/-0.5% qoq), due to forex losses. Stripping out one-off items, adjusted net profit met estimates at Rmb2,427m (+36.2% yoy/+4.0% qoq) on a yoy margin expansion. Its earnings outlook remains brilliant, backed by: a) continuous market share gain overseas, b) ASP increase from optimisation of product mix, and c) its aluminium trim business. M...

Bollore : An exceptional dividend of € 4.2bn, but which will enable Bo...

Bollore : An exceptional dividend of € 4.2bn, but which will enable Bo...

Bolloré : Un dividende exceptionnel de 4,2 Md€ mais qui permet à Bollo...

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 03/18/2026

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 18/03/2026

Tencent Holdings (700 HK): Launch Of WorkBuddy And One-Click Deploymen...

We continue to view Tencent as a core holding for investors seeking exposure to AI applications. Tencent launched WorkBuddy on 9 March, an AI agent developed by the Tencent Cloud CodeBuddy team, alongside QQ Open Platform’s integration with OpenClaw. AI applications are also increasingly delivering both cost reductions and revenue uplift across Tencent ecosystems, enabling new monetisation opportunities, with gaming and advertising among the earliest beneficiaries. Maintain BUY with an unchanged...

Greater China Daily: Thursday, March 12, 2026

Top Stories Company Results | Chongqing Brewery (600132 CH/NOT RATED/Rmb56.22) In 2025, CBC achieved revenue of Rmb14,722m (+1% yoy) and core net profit of Rmb1,188m (-3% yoy). Sales volume increased 1% yoy and ASP remained largely flat. On-premise channels showed a slight improvement during the CNY holiday, but still remained under pressure. In contrast, off-premise channels performed well. While there has been a surge of small players in emerging channels, this is seen as a positive developme...

Regional Morning Meeting Notes: Thursday, March 12, 2026

Greater China Company Results | Chongqing Brewery (600132 CH/NOT RATED/Rmb56.22) In 2025, CBC achieved revenue of Rmb14,722m (+1% yoy) and core net profit of Rmb1,188m (-3% yoy). Sales volume increased 1% yoy and ASP remained largely flat. On-premise channels showed a slight improvement during the CNY holiday, but still remained under pressure. In contrast, off-premise channels performed well. While there has been a surge of small players in emerging channels, this is seen as a positive developm...

Greater China Strategy Alpha Picks: March Conviction Calls.

Chinese equities consolidated further in February, with the HSI and MSCI China Index declining 2.8% mom and 5.6% mom, respectively. March is expected to be volatile, as there are signs that the Middle East conflict could last for a while. We focus on names which have greater domestic exposure, adding Anta, China Duty Free, FII, Futu, Kuaishou and Tencent to our BUY list.

Regional Morning Meeting Notes: Wednesday, March 04, 2026

Greater China Economics | China Investors expect the NPC to set a 2026 real GDP growth target of 4.5-5.0% yoy, with policy support led primarily by fiscal measures while monetary easing remains complementary. The official deficit is likely capped at 4%, though augmented fiscal expansion via special bond issuance will provide additional support. The 15th Five-Year Plan is expected to prioritise hard-tech self-reliance, advanced manufacturing and curbing industrial involution, with only target...

China Internet: Deeper dive into agentic AI and the rise of AI super a...

Highlights  To-C applications growth is accelerating among mega-cap players with super apps, while emerging unicorns focus on To-B and To-prosumers in specific AI scenarios/verticals and on physical AI in verticals such as mobility and smartphone. For the next 6-12 months, we are eyeing key AI narratives: a) roll-out of super apps leveraging on agentic AI, b) leading LLMs in specific verticals unlocking monetisation potential, and c) key drivers of cloud revenue growth. Over time, we expect fur...