里昂：预计腾讯控股(00700)今年游戏业务保持双位数增长 广告业务升两成

Group 1 - The core viewpoint of the report is that Tencent Holdings (00700) is expected to maintain double-digit growth in its gaming business and approximately 20% growth in its advertising business by 2026, reaffirming a "highly confident outperform" rating [1] - The report anticipates that Tencent's performance in the fourth quarter of last year will be stable, with total revenue expected to increase by 13.5% year-on-year to 195.7 billion RMB, and adjusted EBIT projected to rise by 20.6% to 71.8 billion RMB [1] - The firm believes that the online gaming business may bring surprises to the company [1]