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Tencent's Q1 revenue reached 180.022 billion yuan, a 13% year-on-year increase.
Tencent's Q1 net income was 47.821 billion yuan, a year-on-year increase of 14%; adjusted net income was 61.329 billion yuan, a year-on-year increase of 22%.
Tencent Posts Solid Results as AI Investments Start to Pay Off -- Update
Tencent is making another push into e-commerce, establishing a new e-commerce product department on WeChat, reporting to Zhang Xiaolong.
① Tencent's e-commerce dream has shifted from WeChat's video accounts to the full WeChat ecosystem; ② Tencent's WeChat Business Group has newly established an e-commerce product department responsible for exploring transaction models within WeChat, accelerating the development of Trade Infrastructure and Trade ecology, and Operation of new transaction models on WeChat;
The Mobile Game Industry is experiencing intensified reshuffling: download volumes are declining, but player spending has increased by 4%, and the head effect is becoming more pronounced.
Despite the Global decline in mobile game downloads and the issuance of new games, the total revenue from player spending in 2024 still achieved a 4% growth, and the trend of increasing concentration in the Industry has become more evident.
The net Inflow of the TRACKER FUND OF HONG KONG amounts to 5.241 billion Hong Kong dollars.
The Northbound funds' southward net inflow into TRACKER FUND OF HONG KONG (02800.HK) and Alibaba (09988.HK) reached 5.241 billion HKD and 90.45 million HKD respectively. The net outflow from Northbound funds southward for Xiaomi Group (01810.HK), Tencent (00700.HK), and SMIC (00981.HK) amounted to 1.544 billion HKD, 0.899 billion HKD, and 0.4 billion HKD respectively. The highest net fund inflow among active stocks under SH->HK Connect was TRACKER FUND OF HONG KONG (02800.HK) at 4.089 billion HKD, while the highest net fund outflow stock was Xiaomi Group (01810.HK) at 10.
Tencent's Q1 Profit Jumps as Gaming Fuels 13% Revenue Rise