AllAnalyst Report
logoMorningstarDecember 28, 2020

Tencent Holdings Limited: Following Tencent's Solid Q3 Result, FVE Increased to HKD 658 per Share

Communication Services
Current Price
Fair Value
Economic Moat

Tencent is a Chinese Internet giant with businesses and investments in a wide variety of Internet services and contents. Major services include communication and social networking (Weixin/WeChat and QQ), online PC and mobile games, content (news, videos, music, comics, and literature), utilities (email, app store, mobile security, and mobile browser), the cloud, and financial technology. Tenpay in Weixin/WeChat and QQ is a payment solution that enables closed-loop transactions in Tencent’s ecosystems and has been adopted by many third-party partners and offline merchants. Tencent has an aggregate monthly active user base of over 600 million for QQ and 1.2 billion for Weixin/WeChat.

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Analyst Profile

Dan Baker

Dan Baker is a director of equity research for Morningstar Investment Management Asia Limited, a wholly owned subsidiary of Morningstar, Inc. He covers Asian telecommunications and technology companies. He is also team leader for the equity research teams in Hong Kong and China.Before joining Morningstar in 2014, he had 10 years’ experience as an equity analyst with Merrill Lynch and Mirae Asset Securities and two years in equity sales with RBS. He also worked for eight years in the telecommunications industry as an engineer with Ericsson and a telecom industry consultant with Ovum.Baker holds a bachelor’s degree in electrical engineering from the University of Melbourne, a diploma in applied finance and investment from the Securities Institute of Australia, and a master’s degree in accounting from Curtin University.