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<Research>Citi Favors TENCENT/ BABA-W/ BIDU-SW; Internet Giants Ramping Up CNY Promotional Campaigns to Boost AI Products
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With the Chinese New Year (CNY) approaching, Chinese internet companies are stepping up the promotion campaigns for their AI applications and products, Citi said in its research report. TENCENT (00700.HK) announced that it will launch next month a cash red envelope campaign totaling RMB1 billion on the Yuanbao App. BIDU-SW (09888.HK) announced the initiation of a red envelope campaign valued at RMB500 million to promote the Baidu App and Ernie Assistant. Citi expects BABA-W (09988.HK)'s Tongyi Qianwen to join the red envelope promotion battle as well. As internet giants are competing for traffic in the AI era to achieve future ecosystem monetization, the competition for user traffic between AI chatbots and applications is expected to intensify this year. Citi currently prefers TENCENT > BABA-W > BIDU-SW for the Chinese AI sector, all rated as Buy. The broker's current target prices for TENCENT and BABA-W are HKD783 and HKD195, respectively. As for Baidu (BIDU.US), its target price is USD186. AAStocks Financial News |
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