Tencent: Diversification Mitigates Headwinds, But Geopolitical Risks Remain

Planck Quantum Tencent Holdings (OTCPK:TCEHY) (OTCPK:TCTZF) maintains a leading position across several verticals of the Chinese gaming, social networks and tech sectors. Despite historical pressures in value-added Services, non-VAS segments are now the majority of revenue and growing at healthy rates while expanding margins. Domestic gaming may offer upside optionality to meet submerged demand in case regulatory pressures are softened. These trends may underpin improving underlying fundamental trends f ...