Last week on September 16, Tencent’s market value went up 1.51%, having reached HKD 774.98 billion (USD 100 billion) and become the first Chinese internet company with a market value of over USD 100 billion.
Since 2004, Tencent’s market value increased more than 100 times. Citibank has raised Tencent’s target price to HKD 480. Citibank believed Tencent had made a good transition from PC to mobile, and the popularity of Android phones would lead to the boom of mobile gaming.
Tencent launched new games and emoticons on Wechat and Wechat could realize its profits very soon. In the future, Tencent could make a large sum of profits from mobile gaming.