Tencent has made solid progress in further monetizing user traffic on its platform through advertising and online games, which have high growth potential and scalability. We expect the revenue and profitability growth to remain high over the next two years. We expect the China-based Internet service company to continue to generate strong operating cash flow, which creates more headroom for the company to cover its acquisitions and capital expenditure. We are revising the outlook to positive from stable, given our expectation that Tencent will further improve user engagement across its core platforms through enriching its service scale and scope over the next 24 months. In line with this revision, we are raising the long-term Greater China regional scale rating on
