Guohai Securities released a research report stating that Tencent Holdings' 2026-2028 revenue is estimated to be RMB 8,233/9015/982.2 billion yuan, respectively, and the net profit from non-IFRS caliber is RMB 2663/2743/288.1 billion yuan, corresponding to non-IFRS caliber EPS of RMB 29/30/32, and the corresponding non-IFRS PE is 13.0/12.6/12.0x. According to the SOTP valuation method, the total target market value for all businesses of Tencent Holdings in 2026 is RMB 5.0 trillion and HK$5.7 trillion, corresponding The target price is HK$627, maintaining a “buy” rating.

Guohai Securities released a research report stating that Tencent Holdings' 2026-2028 revenue is estimated to be RMB 8,233/9015/982.2 billion yuan, respectively, the net profit from non-IFRS caliber is RMB 2663/2743/288.1 billion yuan, the corresponding non-IFRS caliber EPS is RMB 29/30/32, and the corresponding non-IFRS PE is 13.0/12.6/12.0x. According to the SOTP valuation method, the total target market value of Tencent Holdings' businesses in 2026 is RMB 5.0 trillion and HK$5.7 trillion, corresponding The target price is HK$627, maintaining a “buy” rating.