智通财经网·2026-01-15 06:04Core Viewpoint - UBS reports that Tencent has recently restructured its artificial intelligence (AI) department and accelerated talent acquisition, demonstrating its strong commitment to AI. The appointment of AI head Yao Shunyu, a former OpenAI employee, further enhances the company's ability to attract top AI talent. UBS reiterates Tencent as a preferred stock with a "Buy" rating and a target price of HKD 780 [1] Group 1 - Tencent participated in UBS's 2026 Greater China Conference (GCC), where management highlighted the significant opportunities presented by AI agents. The success of AI applications in the consumer-to-consumer (ToC) sector relies on a comprehensive understanding of users, which enhances the efficiency of AI agents in executing tasks on behalf of users [1] - Tencent WeChat benefits from a large user base, diverse application scenarios, and a thriving mini-program ecosystem, giving it a unique advantage in the AI space [1] Group 2 - UBS forecasts that Tencent's revenue for the fourth quarter of last year will increase by 13% year-on-year, with adjusted operating profit expected to rise by 14% to RMB 68 billion. By business segment, domestic game revenue is projected to grow by 13%, while international game revenue is expected to increase by 24%. Marketing services are anticipated to grow by 18%, and financial technology and enterprise services are expected to remain stable with an 11% increase [1] - The adjusted operating profit margin is expected to improve by 0.3 percentage points year-on-year to 34.8%, with improvements in gross margin partially offsetting the impact of increased AI investments [1]