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富瑞:騰訊(0700.HK)四季度收入大致符預期 維持買入評級
格隆匯 03-24 17:06

富瑞發表研報指,騰訊(0700.HK)去年第四季收入大致符合市場及該行預期;非國際財務報吿準則純利則落後該行預期。報吿下調今年廣吿業務的預測,又提到管理層強調往後業務板塊會向新範式轉變,將專注於具有效率和成本效益的可持續增長。富瑞維持其“買入”評級,目標價由610港元下調至584港元,以反映近期的業務發展。

報吿指出,騰訊第四季廣吿業務收入遜於預期,集團預料將於今年底重拾增長;手機遊戲以及金融科技業務收入均與該行預估相約,集團正探索獲得金融控股公司牌照,認為相關影響短期是中性,對長期發展則是積極。

報吿提到,騰訊管理層強調,互聯網行業正在進入一個強調用户價值、技術、創新、效率和成本效益的階段;預計行業增長將呈放緩,重點是可持續和更健康的發展步伐。僱員人數方面,預計今年整體數目仍將高於去年,但騰訊將繼續精簡其非核心業務。

報吿又指,騰訊投資了多家民營企業,並助力這些企業上市。撤資使騰訊能投資在其他私營企業或重新投資於集團自身。騰訊可以通過多種方式向股東回報價值,例如股票回購、現金分紅或實物分紅等。

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