智通财经网·2025-12-12 09:45Core Viewpoint - Daiwa's report indicates that Tencent is prioritizing GPU resources for internal model training and strengthening core business, which is expected to yield higher returns [1] Group 1: Company Strategy - Tencent is focusing on AI technology to enhance ecosystem integration, which is likely to increase the value of its core WeChat interface across various functionalities such as chat, search, video accounts, content summarization, interaction, and mini-program development [1] - The company aims to drive the development of its gaming business, which will help reduce costs and foster innovation in game content [1] Group 2: Financial Outlook - Tencent is reaffirmed as a preferred stock in the Chinese internet sector with a "buy" rating and a target price of HKD 750, corresponding to a projected price-to-earnings ratio of 20.6 times for 2026 [1] - The company is expected to focus on updating existing games and launching new long-term games, maintaining confidence in the growth of its gaming business [1]