TCEHY
TENCENT HLDGS UNSP/ADR
stock OTC ADR

updating my watchlist for late-2026 setups. main focus is finding companies transitioning from legacy cash cows into higher-margin models:
* $TCEHY: holding steady as the core interactive entertainment anchor.
* $HUYA: added a position following Q2 numbers. Non-GAAP operating income turned around to RMB 16M (up from RMB 0.4M last year) as non-livestreaming revenue reached 36.7% of total revenue. They held RMB 3.21B ($440M+) in net cash/deposits while ramping up their share repurchase program to $100M.
the main thesis here is whether non-livestreaming revenue can cross 40-50% over the next few quarters to structurally change the valuation multiple.
what key growth catalysts or publishing metrics are you tracking for these mid-cap tech pivots into year-end?

updating my watchlist for late-2026 setups. main focus is finding companies transitioning from legacy cash cows into higher-margin models:
* $TCEHY: holding steady as the core interactive entertainment anchor.
* $HUYA: added a position following Q2 numbers. Non-GAAP operating income turned around to RMB 16M (up from RMB 0.4M last year) as non-livestreaming revenue reached 36.7% of total revenue. They held RMB 3.21B ($440M+) in net cash/deposits while ramping up their share repurchase program to $100M.
the main thesis here is whether non-livestreaming revenue can cross 40-50% over the next few quarters to structurally change the valuation multiple.
what key growth catalysts or publishing metrics are you tracking for these mid-cap tech pivots into year-end?