腾讯控股：Inline 4Q25 results; increasing AI investment to solidify competitive moat-20260319

19 Mar 2026 | Target Price | HK$750.00 | | --- | --- | | (Previous TP | HK$760.00) | | Up/Downside | 36.2% | | Current Price | HK$550.50 | CMB International Global Markets | Equity Research | Company Update Tencent (700 HK) Tencent (700 HK) - Inline 4Q25 Inline 4Q25 results; increasing AI investment to solidify competitive moat Tencent announced in-line 4Q25 results: total revenue increased by 13% YoY to RMB194.4bn, and non-IFRS operating income was up by 17% YoY to RMB69.5bn, both in line with Bloomberg co ...