Citigroup: Raised Tencent's target price, saying it actively maintains a leading layout in the field of artificial intelligence.

Citibank stated that while maintaining a positive view on Tencent, the company is actively driving revenue and profit growth in a steady and sustainable manner. They are also actively staying at the forefront in the field of artificial intelligence applications for the enterprise and user end, demonstrating outstanding execution capabilities. Analysts including Alicia Yap stated in their report that Tencent's strong growth momentum in the third quarter was mainly attributed to high-profit margin businesses such as self-developed games, video accounts, WeChat search, and optimizing productivity costs through strategic recruitment of AI talent. Despite a 24% year-on-year decrease in capital expenditures in the third quarter due to insufficient chip procurement, Tencent's investments in upgrading basic model architectures and developing agency-type AI in the WeChat ecosystem have not slowed down, and these investments are expected to bring significant returns in the future. The target price has been raised from 735 Hong Kong dollars to 751 Hong Kong dollars. They reiterated a "buy" rating, continuing to view it as the preferred choice and a primary focus on the AI theme.