---
title: "🔥【Participation Rewards】Tencent has delivered its results — which side are you on this time?"
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/39324168.md"
description: "$TENCENT(00700.HK) 2025Q4 + full-year earnings report is about to be released, and this earnings call could be one of the most worth watching this year. 👉 Who will be Tencent's next "growth engine" in its next phase? Some say: Gaming is still the cash cow..."
datetime: "2026-03-18T02:13:00.000Z"
locales:
  - [en](https://longbridge.com/en/topics/39324168.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/39324168.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/39324168.md)
author: "[热点君](https://longbridge.com/en/profiles/1450684.md)"
---

# 🔥【Participation Rewards】Tencent has delivered its results — which side are you on this time?

$TENCENT(00700.HK) 2025 Q4 and full-year earnings report is about to be released. This could be one of the most important conference calls to watch this year.

👉 Who will be Tencent's next "growth engine"?

Some say: Gaming remains the cash cow, scarily stable.

Others think: Cloud + AI is where the real future potential lies.

And some are betting on: The commercialization of the WeChat ecosystem hasn't fully kicked in yet.

**But there's also a practical question—can Tencent tell a "new story" again?**

👀 Cast your vote (reasons welcome):

A. Gaming business (steady with potential for spikes)

B. Advertising business (recovery + volume growth)

C. Cloud services & AI (the biggest long-term variable)

D. WeChat ecosystem commercialization (hidden gold mine)

E. Other (share your view)

🎁 This time, we're not just listening to opinions; we're rewarding "money-making ideas":

✨【Best Viewpoint Award ×5】

Clearly explain "how to trade + why," and get a 10 HKD stock cash voucher!

✨【Lucky Participation Award ×10】

Randomly selected users who book the live stream and comment in the chat will receive 188 task coins!

✨【Quality Interaction Award (unlimited)】

Original comments over 30 characters that make sense will get 88 task coins!

⏰ Deadline: March 18, 22:00 (Beijing Time)

Rewards will be distributed within 15 working days after the event ends.

_\*Quality content is determined by the platform's comprehensive assessment. Longbridge reserves the right to final interpretation of the rules._

📺 Live Stream Entry👇

[Tencent 2025 Q4 and Full-Year Earnings Conference Call](https://longbridge.cn/zh-HK/lives/342603?channel=SH000001&invite-code=ZJ279A&app_id=longbridge&utm_source=longbridge_app_share&locale=zh-HK&share_track_id=db56c036-4205-4385-821a-d60e34b6b6d3) (Click to book)

Earnings are the result, but more important is the change in expectations. What's your take on Tencent's "next move" this time? Share your judgment in the comments.

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## Comments (28)

- **陪我去流浪吖！ · 2026-03-18T12:54:56.000Z**: C, Tencent is moving too slowly or just resting on its laurels.
- **Bob am I · 2026-03-18T11:09:42.000Z · 👍 4**: I choose c. The market generally expects revenue and profit to achieve double-digit growth, with gaming and advertising businesses projected to be the main drivers. However, the real focus lies in management's guidance on investment and the commercialization progress of the 2026 AI strategy (especia
- **Just Kevin · 2026-03-18T10:10:54.000Z · 👍 2**: $TENCENT(00700.HK)Based on the latest 2025 financial report and 2026 business dynamics, I believe Tencent's next growth engine is D. WeChat Ecosystem Commercialization (Hidden Gold Mine).The reasons are as follows:Secondary Growth of the Ecosystem: Compared to the already fiercely competitive gaming
- **护花使者爱理财 · 2026-03-18T09:39:28.000Z · 👍 1**: C Now AI is the trend. AI has an impact on traditional software companies. To survive, they must embrace AI.
- **不要偷看 · 2026-03-18T09:24:33.000Z · 👍 2**: I believe the most crucial growth engine for Tencent in the next phase is undoubtedly D. The commercialization of the WeChat ecosystem.Although the gaming business remains Tencent's most stable cash cow, contributing substantial gross profit and cash flow, its growth ceiling is constrained by regula
- **红绿灯追风逐浪 · 2026-03-18T08:14:02.000Z**: A+C 股市📈
- **顺势而为369 · 2026-03-18T08:09:00.000Z · 👍 3**: Choose C. 1. High certainty in industry trends: Enterprise digital transformation and the explosion of large AI models are irreversible long-term trends. The global demand for cloud services and AI computing power continues to grow, which is Tencent's most imaginative growth engine for the future.​2
- **kk312 · 2026-03-18T08:06:24.000Z · 👍 2**: Tencent's next phase is "cash cow as foundation, dual-wheel drive":• A (Gaming): Ballast, providing cash flow and profits• D (WeChat ecosystem): Mid-to-short-term certain growth engine• C (Cloud + AI): Long-term biggest variable and core of the new storyMy choice is C+D, with A as the founda
- **老用户666 · 2026-03-18T08:00:46.000Z**: No chance at all
- **我是韭菜999 · 2026-03-18T07:54:33.000Z · 👍 1**: I choose C, cloud business and AI. AI is the future, I have no doubt about it.
- **拉牛来炒股 · 2026-03-18T07:44:55.000Z · 👍 2**: Choose C. Cloud Services & AI (The Biggest Long-term Variable)In the contemporary technological revolution, AI computing power itself is productivity. Only cloud + AI can unlock long-term new space and become Tencent's true growth engine and new narrative for the next phase.
- **BuM · 2026-03-18T07:43:56.000Z · 👍 3**: $TENCENT(00700.HK) I believe the combination of CD (Content and Distribution) is perfect: Tencent's most core growth logic for the future is based on the WeChat ecosystem, with AI as the core driving force. WeChat possesses the most solid traffic and private domain base in China. Video Channels, Min
- **金钱加倍 · 2026-03-18T07:43:04.000Z · 👍 2**: Option C: Cloud Services + AITencent's future growth code is neither the Dragon-Slaying Saber in games nor the Golden Armor on ad slots, but the AI "Pony Ma Jr." hidden in the "Cloud".It might still be burning cash on infrastructure now, but the Hunyuan large model has already quietl
- **新用户_SLCPb · 2026-03-18T07:38:22.000Z · 👍 2**: The commercialization of the WeChat ecosystem, relying on large models to connect WeChat Mini Programs with users, may hold significant business opportunities in the future. This can be likened to Qianwan for the Alibaba ecosystem and Doubao for Douyin's e-commerce.
- **入坑的小散 · 2026-03-18T07:37:00.000Z · 👍 1**: I choose cloud services and AI, hot sectors, which can still be hyped for a few more years.
- **黎诗 · 2026-03-18T07:35:39.000Z**: Cloud service c
- **呦呦鹿鳴 · 2026-03-18T07:30:14.000Z**: Definitely choose C, aren't all the other options supported by it?
- **颜晓智 · 2026-03-18T07:29:17.000Z · 👍 2**: 【Voting Option: C. Cloud Services & AI (The Biggest Long-term Variable)】I believe Tencent's future core growth engine lies in cloud services and AI. Gaming, advertising, and the WeChat ecosystem are Tencent's stable foundation and source of cash flow. Meanwhile, cloud + AI can not only internall
- **需要富贵 · 2026-03-18T07:28:37.000Z · 👍 1**: I choose C. Cloud services and AI.Gaming is indeed stable, but it feels like it's already hit the ceiling. The WeChat ecosystem and advertising are both about tapping into existing potential; they can grow, but it's hard to bring about a qualitative change.The only thing that can really let Tencent 
- **及时止盈落袋为安 · 2026-03-18T07:27:51.000Z · 👍 1**: C. Cloud + AI (Future Ceiling) This is the only direction where Tencent can tell a "big story" again.Simply put, a few key points of logic:	•	AI is becoming infrastructure (similar to mobile internet back in the day).	•	Tencent has three major advantages:	•	User data (WeChat ecosystem)	•	Sce