TENCENT(HK:00700) Sou Hu Cai Jing·2025-03-31 01:58Core Insights - Tencent's Interactive Entertainment Group (IEG) is undergoing significant structural adjustments, particularly within the TiMi Studio Group, indicating a new phase of exploration and higher performance expectations in the gaming sector [1][2][4] - The adjustments grant greater autonomy to the four major studios under TiMi, enhancing decision-making efficiency and allowing for more agile responses to market changes [2][4] Group Structure and Leadership - The leadership structure has been streamlined, with direct reporting to Yao Xiaoguang, which is expected to improve operational flexibility [2] - Key personnel, including Vice President Ji Zefeng, will continue to lead new product direction explorations, reflecting a commitment to innovation within the gaming division [4] Performance Expectations and KPIs - Tencent is raising revenue expectations for IEG, with key projects like "Honor of Kings" and "Peacekeeper Elite" reportedly aiming for a revenue growth of 8%-9%, while mid-tier products may have even higher targets [4] - The mobile game "DNF" has set an annual revenue target of approximately 20 billion, while the S-tier project "Delta Action" has a projected KPI of 3 billion for 2025, with optimistic market expectations [4] Future Development and Strategy - The restructuring is seen as a proactive measure by Tencent to adapt to increasing competition in the gaming market, providing a solid foundation for future growth [4] - The focus on nurturing and promoting grassroots talent within the studios is expected to inject new vitality into team development and overall performance [2]