Zhi Tong Cai Jing·2025-08-14 08:05Core Insights - Tencent Holdings (00700) reported a 15% year-on-year increase in revenue for the second quarter, reaching 184.5 billion RMB, with a gross margin of 56.9% [1] - Adjusted operating profit rose by 18% year-on-year to 69.2 billion RMB, exceeding expectations [1] - The report highlights Tencent's gradual benefits from artificial intelligence, showcasing stable and high-quality growth in its core business segments and the gradual commercialization of AI [1] Financial Performance - Revenue: 184.5 billion RMB, up 15% year-on-year [1] - Gross Margin: 56.9% [1] - Adjusted Operating Profit: 69.2 billion RMB, up 18% year-on-year [1] Market Outlook - The report indicates that Tencent is effectively leveraging its WeChat ecosystem through various integrated use cases and a diverse range of AI products and functionalities [1] - The target price for Tencent has been raised to 705 HKD, with a "Buy" rating assigned [1]