Net profit jumped to four billion yuan (HK$5.05 billion), from 2.9 billion yuan a year earlier. Revenue increased 40.4 per cent to 13.5 billion yuan.
Founded in November, 1998, Tencent has grown into one of China’s largest Internet service portals. Its platforms include QQ (QQ Instant Messenger), QQ.com, QQ Games, Qzone, 3g.QQ.com, SoSo, PaiPai and Tenpay, and span communication, information, entertainment, e-commerce and others. As of September 30, 2011, it said its active QQ user accounts for QQ IM stood at 711.7 million. Tencent listed in Hong Kong in 2004.
It looks like I may have been premature in declaring last month that talks for a tie-up between leading web portal Sina and e-commerce leader Alibaba were dead.
I was a bit surprised by the latest quarterly results from cellular crybaby China Mobile, which I expected to contain abundant evidence supporting its grievances in an ongoing battle with Internet...
A new memo that has been reportedly leaked from China's second largest mobile carrier, China Unicom, shows the nation's three telcos may not be nearly as united as many may think in their approach...
Guangdong says its pension fund is riddled with massive hidden debt.
I've often wondered these last few months about what happened to an anti-trust lawsuit filed against Tencent (0700.HK
Buying rose for a fourth week while selling among directors was high for a third week, with 22 companies that recorded 86 purchases worth HK$541 million, against 10 firms with 44 disposals worth...
Political writers have repurposed Tencent's new WeChat enterprise accounts as mobile publishing platforms.
Yuan deposits in Hong Kong climbed in January to within 0.5 per cent of a record as investors revived bets on the currency's appreciation given an improving outlook for economic growth on the...
The euro-zone economy will shrink in back-to-back years for the first time as governments, consumers and firms curb spending, the European Commission said.
Former Google China president Kai-Fu Lee says he was temporarily banned from posting items on two of the mainland's most popular microblogging platforms. Without saying why he was banned, Lee...
Bottom line: The wave of reorganisations sweeping major Chinese web firms is likely to result in a period of management turmoil, resulting in less innovation on the Internet.