Morgan Stanley released a research report stating that Tencent Holdings' mobile game Valorant is one of its most important new releases this year, with projected annual revenue of 5 to 6 billion RMB. The bank also gave Tencent an "overweight" rating and a target price of HK$650. The report indicates that Valorant launched earlier than expected, with pre-registrations exceeding 50 million as of July, potentially mitigating the high base impact of Dungeon & Fighter Mobile's launch in the same period last year. Furthermore, some of Tencent's classic games performed strongly, with Honor of Kings and Game for Peace seeing second-quarter revenue growth of 13% and 5%, respectively. Disclaimer: This content is automatically generated by an open intelligent model and is for reference only.