After three straight years of decline, Chinese tech company Tencent is poised for gains in 2024. The stock is up more than 3% for the year so far, in contrast with a decline of more than 4% in Hong Kong’s main Hang Seng Index. Tencent, largely known for its gaming and social media businesses, is the biggest stock in the index with a market capitalization of more than $350 billion. The first quarter should “mark the trough” in Tencent’s games business, Morgan Stanley equity analyst Gary Yu and a team said in a report on April 14. “We expect games growth to be down 4% YoY (vs cons down 3% YoY) mainly due to soft domestic growth. That said, our previous expectation of 2Q seeing an inflection point remains intact.” The firm is overweight on Tencent shares, with a price target of 400 Hong Kong dollars ($51). That’s more than 30% above where the stock closed Friday. Chinese authorities resumed approvals of Tencent’s games in late 2022 after a freeze of more than a year. When asked in late March about the risk of new restrictions, management said that regulators have made it clear they intend to “provide a healthy environment for growing the industry rather than constraining the industry.” That’s according to a FactSet transcript of an earnings call. Most of Tencent’s gains this year have come after that quarterly earnings report. The company’s other major revenue generators include advertising, financial technology and business services. “Among our [Asia ex-Japan internet] stock coverage, Tencent is our top pick considering its diversified business models and margin expansion story,” Jefferies analysts said in a note on April 17 about their meetings in the last week with European investors. Also helping analysts’ optimism on the stock are Tencent’s share buybacks. Morgan Stanley’s Yu pointed out that Tencent has announced it would repurchase at least $13 billion in 2024 — more than double last year’s buyback program — for a yield of about 5%. The buybacks offset an ongoing sell-down by Prosus of its holdings in the Chinese company to fund its own share repurchase program. Prosus is a Netherlands-based company owned by Naspers, an early investor in Tencent. “Based on Prosus’ current run-rate of share sale in 1Q24, Tencent’s total buyback for 2024 will be around 2 times of Prosus’ share sale,” Charlene Liu, HSBC’s Head of Internet and Gaming Research, Asia Pacific, said in a report on April 16. “Tencent has increased its daily buyback to HKD1bn/day from HKD500m/day since mid-January,” the report said. HSBC has a buy rating on Tencent, with a target price of 385 Hong Kong dollars. The investment firm also expects Tencent’s game business to turn around soon, albeit not until the second half of this year. “While the inability to undertake buybacks during the blackout period [one month before earnings] can weigh on the share price near term, a persistent recovery in the games business and resilient growth from ads, fintech and business services can help to sustain earnings growth supported by improving margin,” the HSBC report said. Tencent is set to release first quarter results on May 14. Chinese internet companies Alibaba and JD.com have also announced share buyback programs this year. “I believe that we’re definitely seeing more mature performances or behavior patterns, if you will, especially for the list[ed] companies to do buybacks, to do dividends,” Grant Pan, CFO of China-based wealth management firm Noah Holdings, told me in an interview Friday. “In the past predominantly it’s a valuation-driven stock market,” he said. “But now I think people are really not just looking for the valuation but [the] actual value of the company. Instead of looking for multiples they’re looking for the earning power.” Pan said that low liquidity in Hong Kong has also affected share prices in that market, but he hopes that can improve with a new CEO. The Hong Kong exchange’s co-COO Bonnie Chan is set to become head of the business in late May. Noah’s clients have also started inquiring more over the last two to three quarters about investments in China, Pan said, noting that prices are nearing a level at which there may be opportunities to buy. — CNBC’s Michael Bloom contributed to this report.
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Camping is a fun summer activity. What’s not fun is having no access to electricity. You can’t charge your phone, watch TV, or make your morning cup of coffee. Thankfully, portable power stations allow you to do all that and more. It’s literally like bringing along a giant battery for all of your electronics. Portable power stations are also good to have around your home in case of power outages.
There’s just the problem of price. Portable power stations are notoriously expensive, especially ones that have a larger energy storage capacity. The good news is that we were able to find a solid deal on a 1,056-watt-hour (or 1 kilowatt-hour) power station. This $800 Anker Solix C1000 Portable Power Station is $550 at Amazon for a limited time. At 31% off, you’re saving $250.
Anker Solix C1000 Portable Power Station, $550 (was $800) at Amazon
The Anker Solix C1000 features a power output of 1,800 watts, making it strong enough to handle multiple electronics and small appliances at once. It has 11total power ports. You get two USB-A and USB-C ports, a car socket, and six AC outlets. Additionally, it also functions as a night light and has a handle for easy carrying. It weighs about 28 pounds.
Now let’s talk about charging. There are two ways you can charge the Anker Solix C1000. The first way is just by plugging it into a standard AC wall outlet. Or if you have the portable solar panels (sold separately), you simply connect the wires and place the panels in the sun. When plugged into an AC outlet, your power station can be fully charged in about an hour. If you charge up with solar, it’ll likely take around two hours. The digital display on the front of the power station shows you the battery and charging status.
Shoppers have found multiple uses for this portable power station. “We bought it mainly for short power outages and to run our refrigerator, but it will have many other uses for sure,” one shopper said. “Just this past week, I had to do some repairs to our floating dock, and there is no extension cord long enough to reach, so I brought this Anker Solix C1000 and it powered our two saws and drills without any issue at all. It’s very cool and has lots of different outlets. Very impressive unit!”
Others say they get daily use out of it. “I love it. I use it every day. I am traveling and camping everywhere,” one shopper shared. “I use it to power a car mobile refrigerator, a little portable air conditioner, and of course, my iPhone and other electronics, and sometimes an electric stove. It can take on all tasks with no problem. I love the mobile design and durability.”
You don’t need to be ‘roughing it’ the next time you go camping. Consider grabbing the Anker Solix C1000 Portable Power Station to keep all your devices charged and bring along a few essentials for the kitchen or living room. You’ll feel like you never left home.
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Time is the most valuable thing any of us has. Therefore, why not keep track of it in the most accurate and stylish way possible, relishing every second? Amazon can help you do that with its incredible selection of high-end watches. One of them, from Citizen, is currently available for half off, and we think it ticks all the boxes.
The Citizen Calandrier Eco-Drive Watch is on sale for $260 right now, which is 50% off the regular price of $525. Not only does this watch give you the time, but it even tells you the day and the date.
Citizen Calandrier Eco-Drive Watch, $260 (was $625) at Amazon
While a watch that tells the time is useful, one that does that and lets you know exactly what day and date it is can keep you on schedule better than you might imagine. In addition to the time, day, and date functions, this watch has a 24-hour tracker and world time function, so you can know what time it is anywhere in the world.
With a stainless steel case and bracelet, the timepiece oozes elegance and durability. Its blue dial is highly legible and attractive, and is sure to get you plenty of compliments. It also has a scratch-resistant mineral crystal and 100 meters of water resistance. The Japan-made quartz movement inside operates off of solar energy, provided by the Eco-Drive technology within.
Amazon customers raved about this watch. One called it “my favorite watch,” adding, “I fell in love with how it looked…It feels and looks like a very high-quality watch. All the functions work perfectly and are not hard to read.”
Another touted the “beautiful blue dial,” and said, “I love good-looking watches…but if the design can incorporate useful functions as well, it’s a winner for me. And this watch does all of that.”
The Citizen Calandrier Eco-Drive Watch will let you know exactly when you are, and it can do so in style. It can also do so for only $260 at the moment, so why not take a chance? We would never waste your time if it weren’t worth it.