Citi: Tencent WorkBuddy Shows Strong Momentum, Maintains "Buy" Rating

Golden Finance reported on July 7 that Citi released a research report indicating that, based on the latest industry data, Tencent's AI agent product WorkBuddy has reached 20 million monthly active users (MAU) across platforms, with daily active users (DAU) exceeding 13 million. The DAU/MAU ratio ranges between 65% and 75%. Considering the product has only been launched for a few months, Citi believes user engagement and daily participation are both performing strongly. Citi cited Tencent's management, stating that based on WorkBuddy's daily active user count, Tencent has already taken the lead in AI agent deployment among its peers in China. Early user data reflects strong natural growth for both CodeBuddy and WorkBuddy, with high retention rates. Early users exhibit prolonged and frequent interaction with AI agents, creating a virtuous cycle. Citi expects AI products to become a key revenue source for Tencent Cloud. The firm believes WorkBuddy's success demonstrates the strength of Tencent's ecosystem, the synergy between various productivity tools, and users' trust in Tencent's products and security. Citi maintains its "Buy" rating for Tencent, with a target price of HK$763 unchanged.