0837 GMT - WeChat's e-commerce system could gain stronger awareness among consumers in 2025 through a broader adoption of its gifting function, Citi analysts say in a research note. The Tencent-owned popular messaging app in December rolled out a gifting function, which has successfully expanded the consumption scenarios within the app's ecosystem during the Lunar New Year, the analysts note. Citi predicts the function to be more widely used, thanks to the app's "social graph" alongside a growing number of participating merchants. Citi maintains a buy rating on Tencent, with its target price unchanged at HK$563.00. Shares of Tencent last ended at HK$420.40. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
February 06, 2025 03:37 ET (08:37 GMT)
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