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《大行報告》國泰君安:騰訊(00700.HK)遭主要股東減持或致暫時波動 但料對基本面影響有限
騰訊(00700.HK)昨公佈主要股東Naspers及其旗下的Prosus宣佈開展一項長期、開放式的回購計劃,計劃有序地在場內出售Naspers所持的騰訊股份,從而籌集回購計劃所需資金。Naspers表示,預期每天出售的公司股份數目將佔騰訊股份每日平均成交量的一小部分,若Naspers在過去三個月內在符合歐洲監管限制的前提下執行回購計劃,每天出售的騰訊股份平均不會超過騰訊每日平均成交量約3%至5%。 國泰君安發表報告表示,首先根據公司信息,截至2021年年底,MIH TC(由 Naspers控股並通過Prosus持有)持有騰訊約28.82%的股份,爲公司的第一大股東。然而,每日交易量較小,該行認爲其或會導致暫時的市場波動,但對騰訊長期股價以及基本面影響有限。 此外,Naspers Group通過出售作爲騰訊特別分紅的京東股份獲得36.7億美元的收益。其次,Naspers Group將開始出售少量騰訊股份,爲其股份回購計劃提供資金支持,且Naspers Group宣稱其對騰訊長期前景充滿信心。第三,雖然騰訊短期內承壓,但該行認爲公司基本面正在恢復,主要考慮到第一是微信作爲騰訊最重要的流量入口,用戶規模仍在增長,第二是中國政府進一步支持平臺經濟及數字經濟的發展,以及第三在線遊戲版號審批已經恢復。 國泰君安表示,目前對騰訊的投資評級爲「收集」,目標價爲450.19元。(wl/s) ~
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