Core Viewpoint - 招银国际 maintains a "Buy" rating for Tencent Holdings (00700) with a target price of HKD 705, highlighting the company's strategic focus on AI and globalization as key growth drivers [1] Group 1: Strategic Directions - Tencent Cloud is focusing on two main strategic directions: "intelligent" and "global" engines, with AI empowerment for clients and global business expansion as priorities [1] - The company is accelerating the implementation of AI applications for both C-end and B-end, and has released a comprehensive strategy for its intelligent agent solutions to assist enterprises in building intelligent systems [1] Group 2: Business Growth - Over the past year, Tencent Cloud's international business has achieved high double-digit growth, with the number of overseas customers doubling year-on-year [1] - The company plans to enhance its international business layout by strengthening infrastructure, product technology, and service capabilities [1] Group 3: Future Outlook - The long-term outlook is positive, with expectations that demand for AI products and overseas business will be significant drivers of revenue growth for Tencent Cloud [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致 的任何損失承擔任何責任。 本公告及上市文件（定義見下文）僅供參考，並不構成收購、購買或認購證券的邀請或要約。 本公告及上市文件乃根據上市規則（定義見下文）規定刊發為僅供參考之用，且並不構成出售任何證券的 要約或招攬購買任何證券的要約。本公告或其提及的任何內容（包括上市文件）並不構成任何合約或承諾的 根據。為免存疑，刊發本公告及上市文件不應被視為就香港法例第32章公司（清盤及雜項條文）條例而言 根據本公司（定義見下文）或其代表刊發的招股章程提出的證券要約，亦概不構成就香港法例第571章證 券及期貨條例而言的廣告、邀請或文件，其中載有邀請公眾人士訂立或要約訂立有關收購、出售、認購 或包銷證券的協議。 本公告及上市文件不會直接或間接在或向美國境內（包括其領土和屬地、美國的任何州以及哥倫比 亞特區）發放。本公告不構成或作為在美國或任何其他司法權區（而在該等司法權區，要約、招攬或 出售證券在根據該司法權區的證券法律進行登記或獲得資格前屬違 ...

Summary of Key Points Core Viewpoint - Tencent Holdings has been actively repurchasing its shares, indicating a strong commitment to enhancing shareholder value and confidence in its stock performance [2][3][4]. Group 1: Share Buyback Details - On September 23, Tencent repurchased 867,000 shares at a price range of HKD 627.000 to HKD 643.000, totaling HKD 550 million [2]. - Since August 18, the company has conducted buybacks for 27 consecutive days, acquiring a total of 24.12 million shares for a cumulative amount of HKD 14.866 billion [2]. - The stock price increased by 7.35% during the buyback period, despite a slight decline of 0.86% on the day of the latest buyback [2]. Group 2: Year-to-Date Buyback Activity - Year-to-date, Tencent has executed 89 buybacks, acquiring a total of 113 million shares for a total expenditure of HKD 54.909 billion [2]. - The buyback activity reflects the company's strategy to support its stock price and return capital to shareholders [2][3]. Group 3: Historical Buyback Data - The buyback data shows a consistent pattern of share repurchases, with varying amounts and prices over the past months, indicating a proactive approach to managing its capital structure [3][4]. - The highest recorded buyback price in recent months was HKD 664.000 on September 18, while the lowest was HKD 586.000 on August 20 [3][4].

格隆汇9月23日丨腾讯控股(00700.HK)公告，有关根据全球中期票据计划发行人民币90亿元票据。董事 会欣然宣布，于2025年9月23日，已根据计划完成发行票据。 ...

Core Viewpoint - Tencent Holdings (00700) announced the completion of issuing RMB 9 billion notes under its global medium-term note program on September 23, 2025 [1] Group 1 - The company has successfully issued RMB 9 billion in notes [1]

Group 1 - The company, Tencent Holdings, announced the completion of the issuance of RMB 9 billion notes under its global medium-term note program on September 23, 2025 [1]

本公告僅供參考，並不構成收購、購買或認購證券的邀請或要約。 本公告不會直接或間接在或向美國境內（包括其領土和屬地、美國的任何州以及哥倫比亞特區）發 放。本公告不構成或作為在美國或任何其他司法權區（而在該等司法權區，要約、招攬或出售證券在 根據該司法權區的證券法律進行登記或獲得資格前屬違法）出售證券的要約或招攬購買證券的要約的 任何部份。本公告提及的證券尚未且不會根據美國證券法登記，而在未辦理登記手續或未獲美國證 券法登記規定的適用豁免的情況下，不得在美國發售或出售。凡在美國公開發售任何證券，均須以 刊發招債章程之方式進行。該招債章程須載有作出有關發售之公司、其管理層及財務報表的詳盡資 料。 於香港聯合交易所有限公司 上市之通告 （股份代號：700（港幣櫃台）及 80700（人民幣櫃台）） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 聯席全球協調人兼經辦人 中國銀行 中國農業銀行 中信証券 滙豐 中國工商銀行 （亞洲） 摩根大通 其他經辦人 | 交 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 本公告不構成在美國或任何其他司法權區出售任何證券的要約或招攬購買任何證券的要約：在該等 司法權區，上述要約、招攬或出售在根據該司法權區的證券法律進行登記或獲得資格前屬違法。在 未辦理登記手續或未獲適用的登記規定豁免的情況下，不得在美國發售或出售任何證券。凡在美國 公開發售任何證券，均須以刊發招債章程的方式進行。該招債章程須載有作出有關發售之公司、其 管理層及財務報表的詳盡資料。本公司無意在美國公開發售任何證券。 （股份代號：700（港幣櫃台）及 80700（人民幣櫃台）） 根據全球中期票據計劃 完成發行人民幣 90 億元票據 董事會欣然宣佈，於二零二五年九月二十三日，已根據計劃完成發行票據。 – 1 – 釋義 於本公告內，除文義另有所指外，下列詞彙具有以下涵義： | 詞彙 | 釋義 | | --- | --- | | 「二零五五年票據」 | 將於二零五五年九月二十三日到期的人民幣10.0億元 | | | ...

Group 1 - Tencent Holdings announced a share buyback of 550 million HKD to repurchase 867,000 shares on September 23, 2025 [1] - On the same date, the company issued 29,300 shares due to the exercise of stock options [1]

Group 1 - Tencent Holdings announced a share buyback of 550 million HKD to repurchase 867,000 shares on September 23, 2025 [1] - On the same date, the company issued 29,300 shares due to the exercise of stock options [1]