China Market Update: PDD Beats Expectations On Net Income While Revenue Misses, Profit Taking Clips Hong Kong Growth Stocks [Forbes]
TENCENT HLDGS UNSP/ADR (TCEHY)
NASDAQ:AMEX Investor Relations:
tencent.com/en-us/investor.html
Company Research
Source: Forbes
The company is not the most communicative, as the founder's engineering background means he focuses solely on the business. For instance, the company doesn't break out revenues from domestic China e-commerce from its Temu global e-commerce. The lack of communication has sometimes created volatility for shareholders. On today's analyst conference call, the company, when asked by an analyst about competition in e-commerce, noted that competition pushes the company to keep investing in technology. When asked indirectly about changing US import shipping laws, the company said that it could create “challenges” though it was out of their control, so they will focus on improving their platform. After rising+29% YTD, the ADR is off slightly this morning following the report. Revenue increased +24% YoY to RMB 111B from RMB 99.3B versus analyst expectations of RMB 116B Adjusted Net Income increased 17% YoY to RMB 29.85B($4.089B) from RMB 25.476B versus analyst expectations of RMB 28.5B Ad
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