Summary:Chinese concept stocks have gone through a cliff-like adjustment in the past half year, and the recent sharp rebound has finally relieved everyone. On March 23, 2022, Tencent will announce its fourth-quarter financial report, facing factors such as market regulation, decline in advertising business, and decrease in investment returns. It is an undeniable fact that Tencent's net profit will decline. Optimists estimate Tencent's revenue to grow by 12% year-on-year, with a net profit of around 32.5 billion yuan under non-GAAP rules, a decrease of 8% year-on-year. Pessimists estimate that Tencent's revenue will grow by about 7% year-on-year, with a net profit of around 24.5 billion yuan under non-GAAP rules, a decrease of around 27% year-on-year. The expected performance of Tencent's core business in the fourth quarter is as follows:
Top games steadily growing, new game 'League of Legends Mobile' and other monetization opportunities shining.
Advertising business is under short-term pressure due to policy and macroeconomic slowdown, while the growth rate of social networks is slowing down.
Fintech and enterprise services will maintain high-speed growth. Tencent Cloud is expected to increase revenue growth rate by over 55%.

Chinese concept stocks rebounded from oversold levels.
Positive development for Chinese concept stocks.The latest State Council meeting pointed out that the government will continue to support various types of enterprises to list overseas. Regarding the governance of the platform economy, relevant departments should improve the established plans in accordance with the principles of marketization, legalization, and internationalization, adhere to the principle of seeking progress while maintaining stability, and promote the sound and healthy development of the platform economy through standardized, transparent, and predictable supervision. It is necessary to prudently promote and complete the rectification work of large platform companies as soon as possible, ensuring that both red and green lights are set properly, in order to enhance the stability and healthy development of the platform economy and improve international competitiveness. Regarding the issue of stability in the Hong Kong financial market, the mainland...