智通财经网·2025-09-24 06:26Core 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]