$TENCENT(00700.HK) didn't get to the point. The main reason is the regular and continuous reduction of holdings by major shareholders and the suspension of buybacks before the annual report. The financial report is likely to be normal, with slightly higher capital expenditures. Then, with the resumption of buybacks, the stock price will recover. The cost pass-through from telecom tax increases won't add much cost unless the government really imposes a general tax increase on the internet.
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