The Zhitong Finance App learned that Citibank released a research report saying that Tencent Holdings (00700) became a strategic partner of the 33rd Asia-Pacific Economic Cooperation (APEC) Economic Leaders Meeting held in Shenzhen from November 18 to 19, which is an important recognition and verification of its companies' artificial intelligence, cloud and digital ecosystem capabilities. The bank reaffirmed Tencent's “buy” rating. The target price is HK$755, and believes that the recent weak stock price provides a buying opportunity.

The bank believes that this partnership will allow Tencent to showcase its generative artificial intelligence and cloud technology systems on an important global stage. The relevant deployment is expected to significantly increase Tencent's brand awareness among international representatives, and at the same time promote the familiarity and adoption of the WeChat Mini Program ecosystem and local merchant network by more overseas users.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.