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Company Encyclopedia
name
Tencent HK SDR 10to1
HTCD.SG
Tencent Holdings Limited, an investment holding company, provides value-added services, marketing services, fintech, and business services in Mainland China and internationally. The company’s consumers business includes communications and social services, such as instant messaging and social networks; digital content, including online games, videos, live streaming, news, music, and literature; fintech services, which include mobile payment, wealth management, consumer loans, and securities trading; and various tools comprising network security management, browsing, navigation, application management, email, etc. Its enterprise business comprises marketing solutions, which offer digital tools, including user insight, creative management, placement strategy, and digital assets management; and cloud services, such as cloud computing, big data analytics, artificial intelligence, Internet of Things, and security and other technologies for financial services, education, healthcare, retail, industry, transport, energy, and radio and television industries. The company also invests in, produces, and distributes films and television programs; offers copyrights licensing and merchandise sales and other services; provides internet advertisement services; and offers software development, and information technology and system integration services, as well as develops and operates mobile games.
75.72 B
HTCD.SGMarket value -Rank by Market Cap -/-

Financial Score

19/05/2026 Update
B
Interactive Media and ServicesIndustry
Industry Ranking1/4
Industry medianC
Industry averageC
Score Analysis
Peer Comparison
  • Criteria
    Rating
  • Profit ScoreA
    • ROE21.69%A
    • Profit Margin30.61%A
    • Gross Margin56.64%B
  • Growth ScoreB
    • Revenue YoY11.06%B
    • Net Profit YoY15.70%C
    • Total Assets YoY8.17%B
    • Net Assets YoY9.14%B
  • Cash ScoreB
    • Cash Flow Margin139.30%B
    • OCF YoY11.06%B
  • Operating ScoreC
    • Turnover0.39C
  • Debt ScoreC
    • Gearing Ratio40.94%C

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Institutional View & Shareholder

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    News

    BILI 1Q26 First Take: Q1 results were broadly in line. Ads, one of the two core pillars, beat expectations. That said, Dolphin Research is slightly disappointed that MAUs rose by only ~10 mn QoQ during a seasonal peak, below last year, which may reflect calendar shifts around CNY and school holidays; we will look for color on the call. 1) Total revenue was RMB 7.5 bn (+6.7% YoY). Ads did the heavy lifting. (1) Ads were the standout, accelerating to nearly +30% YoY, helped by robust AI and game advertiser demand amid heightened competition. Q1 saw a race for AI entry points, and BILI, a mainstream channel for AI app performance marketing, naturally benefited. Ad load still has room to rise, and the platform recently added a new slot — pause ads. (2) Games declined 12% YoY on a high base. Q1 was driven by the HK/Macau/Taiwan launch of 'Sanmou', which targets smaller markets and tracked stably. With 'Three Kingdoms: Hundred-Battle Cards' planned for end-Q2 and two more titles in 2H, the new-game cycle is approaching. (3) VAS grew 3.7% YoY, pressured by live-streaming, and premium members declined QoQ. IP-led DTC commerce continued to contract, down 4% YoY and below expectations. That said, the segment is small, so the overall impact is limited. 2) OP came in at RMB 170 mn with a 2.2% OPM. Q1 margins typically dip QoQ on e-commerce off-season effects on ads, heavier marketing, and annual bonus payouts, but this quarter’s sequential decline was steeper than usual. The key difference is increased AI investment, with R&D reversing three years of tightening (mainly from game R&D cuts) to grow 9% YoY this quarter. 3) BILI repurchased 2.5 mn shares in Q1 for $60 mn at an avg $24. The 2-yr $200 mn buyback authorized in 2024 has been completed as of quarter-end. Net cash stood at RMB 19.3 bn (~$2.8 bn), leaving ample room for further buybacks; watch for management’s roadmap on shareholder returns on the call. The market was rattled two days ago by Tencent’s plan to sell high-valuation investment assets to fund its own buybacks, which sent its shares lower. Tencent holds about 10% of BILI. $Bilibili(BILI.US) $BILIBILI-W(09626.HK)