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Tencent Holdings Limited (TCEHY) is a global leader in interactive entertainment, multimedia services, and technology innovation. This dedicated news hub provides investors and industry professionals with timely updates on Tencent's strategic developments, financial performance, and market leadership.
Access curated press releases and analysis covering earnings reports, gaming launches, strategic partnerships, and technological advancements. Track Tencent's investments in emerging sectors like cloud computing, digital payments, and international entertainment markets through verified updates from primary sources.
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Tencent Holdings Limited reported strong financial results for 1Q2021, with total revenues reaching RMB135.3 billion (USD20.6 billion), a 25% YoY increase. Non-IFRS profit attributable to equity holders rose 22% to RMB33.1 billion (USD5.0 billion). Significant growth was noted in FinTech and Business Services, up 47%, and Online Advertising, growing 23%. The company plans to invest in business services, high-production-value games, and short-form video content, while recognizing its social responsibility through a new Sustainable Social Value Organization with an initial RMB50 billion fund.
The Fourth Industrial Revolution Promotes Industry Support and Rural Revitalization training program was launched by UNIDO ITPO Beijing and Tencent Group on May 14-15, 2021, in Lingshou County, Hebei, China. The initiative aimed to empower over 500 local entrepreneurs and youths with employment skills, utilizing Tencent's platforms like WeChat, Tencent Classroom, and Smart Retail solutions. It focused on enhancing employment opportunities while addressing challenges posed by the digital divide and COVID-19. The program is part of a broader effort to support rural revitalization and industry development.
Tencent has been named one of the world's 100 most influential companies by TIME, highlighting its major impact across various sectors. Recognized for its role during the Covid-19 pandemic through innovations like digital payments, Tencent plans to invest RMB 50 billion (approximately USD 7.67 billion) in initiatives focused on sustainability, education, and public welfare. With a commitment to carbon neutrality and cultural promotion, Tencent continues to leverage technology for societal benefit, making strides in philanthropy and tech innovation.
On April 24, 2021, Edward Cheng, VP of Tencent, emphasized youth internet literacy at the International Conference on Childhood Studies. With internet penetration at 99.2% among minors in China, Cheng highlighted the need for digital literacy education.
Tencent's initiatives, including the DN.A Program and collaborations with schools, aim to bridge educational gaps in digital skills. The Children's Internet Literacy Research Center develops appropriate curricula, while the Art Action project supports rural art education. Tencent is dedicated to fostering the next generation of digital citizens.
Tencent Holdings Limited released its financial results for 4Q2020 and FY2020, showing a strong performance amid challenges. Total revenues for 4Q2020 reached RMB133,669 million (USD20,486 million), up 26% YoY. Non-IFRS profit attributable to equity holders rose by 30% YoY to RMB33,207 million (USD5,089 million). For FY2020, total revenues increased by 28% to RMB482,064 million (USD73,881 million). The company recommended a final dividend of HKD1.60 per share. Continued growth in online games, advertising, and fintech services underscores Tencent's solid market position.
Tencent is addressing the surge in demand for high-quality video during and after the COVID-19 pandemic by advancing media compression and transmission technologies. As global video traffic increases, Tencent Media Lab aims to enhance bandwidth efficiency while developing standards for the future of immersive media and virtual reality. The lab's innovations include point cloud systems for 3D modeling and light-field technology for holographic displays. Continuing their commitment to research, Tencent plans to invest in multimedia technology, ensuring effective support for developers and cultural initiatives.
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