Morgan Stanley: Tencent's new game has shown strong momentum since its launch

Morgan Stanley analysts' report states that Tencent's mobile game "Valorant" has shown strong momentum since its launch. The game currently ranks first on the overall iOS app chart in China, first on the download chart, and seventh on the revenue chart. The game is expected to achieve Morgan Stanley's forecast of a top five revenue ranking, with total revenue in the first year estimated at approximately RMB 5 billion to 6 billion. Morgan Stanley analysts believe that following the recent successful launch of "Delta Force" and now "Valorant," Tencent may further capture market share in the first-person shooter category in China. Morgan Stanley indicated that, given the continued performance of its evergreen games and strong deferred revenue from international games, their confidence in Tencent's gaming business has further strengthened after the second quarter