Tencent Holdings analysts, who have a history of being too bullish, have now been caught off guard by a rally that’s gathering pace in Asia’s biggest stock.
With over 2.3 billion monthly active users around the world, it’s not a stretch to imagine that Facebook could have great influence over who pays whom, and how.
Allen Zhang stepped on stage to wrap up a long day of presentations at a Tencent Holdings conference. Four hours later, the WeChat founder had methodically torn apart his own brainchild before mapping out the next act for China’s premier super-app.
The Chinese Internet giant seems set on building out the long tail, maximising value beyond mainstream usage of its core products.
Two hip, young start-ups are set to become the latest challenge to Tencent just as China’s dominant social media company struggles with shrinking margins and slowing growth.