TENCENT(HK:00700) China Post Securities·2025-09-17 03:36Industry Investment Rating - The industry investment rating is "Outperform the Market" and is maintained [1] Core Insights - The report highlights Tencent's dual efficiency engines of "Intelligentization" and "Globalization" as key strategies for growth, with a focus on AI capabilities and international market expansion [4][6] - Tencent's AI development platform has seen significant enhancements, with nearly 600 new features added, enabling users without programming experience to create AI products [5] - The report emphasizes Tencent Cloud's robust growth in international business, with a doubling of overseas customer numbers over the past three years, indicating strong demand for its services [4] Summary by Sections Industry Overview - The closing index level is 5617.07, with a 52-week high of 5841.52 and a low of 2855.49 [1] Recent Developments - Tencent has launched its "Intelligent Agent Strategy" and is enhancing its AI capabilities across various business sectors, including advertising and gaming, leading to significant revenue growth [5][6] - The AI capabilities are integrated into Tencent's advertising business, resulting in a 20% increase in marketing service revenue in Q2 [5] Investment Recommendations - The report suggests focusing on companies involved in AI agents and domestic computing power, listing several key players in these sectors [8]