[IT] Sohu news news March 28th, Credit Suisse (Credit Suisse) 16 issued a research report of the Tencent, said in a report, e-commerce and payment of Tencent long-term driving force, the market underestimated the value of Tencent and Tencent group purchase platform; the game business will also have made great development, Credit Suisse believes that Tencent the stock attractive, so will its target price from HK $227 to HK $246, Credit Suisse will Tencent stock as "outperform" (Outperform) level.
the following is a summary of the report:
e-commerce and payment is a long-term driving force
The benefit of Tencent
e-commerce operation and investment will rise from the trend of electronic commerce, and will eventually integrate social networking platform and large Tencent. The third party payment platform trading volume Tencent caifutong 2010 reached 202 billion yuan, accounting for about 20% market share; at the same time, Tencent also has: 1) e-commerce business, direct operations such as pat, QQ; 2) open e-commerce platform, such as QQ group purchase; 3) electronic commerce and other business ventures people, such as cooperation with Groupon established Gaopeng (Gaopeng.com).
in 2011, Tencent by way of a large group to enter the field: 1) QQ group; 2) buy platform; 3) Investment Group website, Gaopeng.com and QQ group launched in early 2010. QQ group is targeting QQ VIP members, currently has 300 outsourcing employees.
QQ buy platform on-line early 2011, has now recruited a group of more than and 10 companies. Tencent through a high-quality group of companies to cooperate in a particular city and the advantages of goods. Tencent plans to continue to promote this year after the new year to buy platform business.
February 28, 2011, Groupon announced a joint venture with Tencent, Peng Yunfeng fund, to enter the market Chinese. According to industry sources, Groupon has 45% of the high share, Tencent owns 45%, Yunfeng fund has 10%. Groupon has a wealth of experience in the field of data mining and group buying, and Tencent has the largest user base. Groupon tried to open up the global market based on Gaopeng is expected to more than 1000 employees in May 2011 employment, it will become one of the world’s largest group purchase company. Therefore, Credit Suisse estimates Gaopeng on-line will intensify competition. Gaopeng is the goal of all Internet users Chinese, Groupon and Tencent, not Baidu, proved unlimited potential growth of users of the QQ platform, which can be transformed into income through e-commerce. Tencent has passed the investment fund investment, short-term losses will not affect Gaopeng’s profits of Tencent. Credit Suisse believes that the market underestimated the value of the platform of Tencent.
game business re evaluation
according to 17173.co>