Citi has issued a research report, reiterating its 'Buy' rating for Tencent and adjusting the target price upwards from HK$783 to HK$787, all while maintaining Tencent's status as a premier investment pick. Citi posits that while Tencent may not be the trailblazer in the AI race, it has a proven track record of making up ground from behind. It is anticipated that Tencent's investment in new AI products this year will more than double its investment from the previous year. Although profit growth may lag behind revenue growth in the short term, in the long haul, the profit growth in Tencent's core businesses is expected to offset AI-related expenditures. Citi projects that Tencent's revenue, gross profit, and adjusted operating profit will witness year-on-year increases of 8.6%, 9.3%, and 4.3%, respectively, this year. Moreover, Citi believes that the launch of the Hunyuan 3.0 model and the introduction of new AI agents within WeChat will enable Tencent to capitalize on opportunities and consolidate its market position.