Tencent Holding Ltd. ADROTCPK - Current
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  • Tue, Oct. 18, 3:27 PM
    • Shares of MakeMyTrip (NASDAQ:MMYT) are up 49% after the company announced it would combine with Indian online travel company Ibibo.
    • The deal is structured so that Ibibo owner Naspers (OTCPK:NPSNY) and Tencent Holdings (OTCPK:TCEHY) will end up holding about 40% of MakeMyTrip's shares.
    • Previously: MakeMyTrip to combine with Ibibo Group (Oct. 18)
    | Tue, Oct. 18, 3:27 PM
  • Tue, Sep. 6, 3:31 AM
    • Tencent Holdings (OTCPK:TCEHY) has become the most valuable company in Asia, beating out state-owned telecom China Mobile (NYSE:CHL) and entering the realm of the world's top 10.
    • The company's shares closed 4.2% higher at HK$210.20 in Hong Kong on Monday, lifting its market capitalization to HK$1.99T ($256.6B).
    • Tencent is best known for operating China's biggest messaging service QQ and WeChat. It also offers online payment services, cloud storage and entertainment.
    | Tue, Sep. 6, 3:31 AM
  • Thu, Aug. 18, 2:55 AM
    • Tencent (OTCPK:TCEHY) has overtaken Alibaba (NYSE:BABA) to become China's most valuable tech company after unveiling a strong set of earnings.
    • The firm posted a 47% climb in net income to a record 10.74B yuan, handily beating estimates on strong growth in mobile gaming and advertising.
    • Tencent shares rose 5% on the news to reach a market capitalization of $246B, compared with Alibaba's market value of $242B.
    | Thu, Aug. 18, 2:55 AM | 9 Comments
  • Wed, Aug. 17, 10:29 AM
    • Tencent Holdings (OTCPK:TCEHY +3.2%) records quarterly operating profit of 2.215B (+42% Y/Y), a 3% decrease in operating margin Y/Y, profit of $1.734B (+42% Y/Y) and net margin of 32% vs. 35% Y/Y.
    • VAS business revenue increased 39% Y/Y, online games revenue increased 32% Y/Y, social networks revenue increased 57% Y/Y, online advertising business revenue increased 60% Y/Y, performance-based advertising revenue increased 80% Y/Y and brand display advertising increased 41% Y/Y. Revenue from other businesses increased 275% Y/Y.
    • From Tencent chairman and CEO Ma Huateng: "During the second quarter, we sustained solid growth in our platforms and businesses, including our social and media platforms, games, digital content, advertising, and payment services. We executed strategic initiatives to strengthen our ecosystem and to reinforce our ability to bring best-in-class entertainment content to our users."
    • Conference call
    • Press release
    | Wed, Aug. 17, 10:29 AM | 2 Comments
  • Wed, Aug. 17, 8:35 AM
    | Wed, Aug. 17, 8:35 AM
  • Fri, Aug. 12, 3:40 PM
    • Microsoft (MSFT -0.8%), eBay (EBAY -0.7%), Etsy (ETSY -0.9%), Yahoo (YHOO +3.9%), Tencent (OTCPK:TCEHY -1.1%), Pinterest (Private:PINIT) and others have signed a commitment to impede trading of illegal wildlife and related products on their respective platforms in collaboration with the World Wildlife Fund, TRAFFIC and the International Fund for Animal Welfare.
    • The aim is to stem supply and accessibility to a growing market for exotic and rare items obtained through poaching and other illegal means. The companies and organizations are looking to establish a "standardized, industry-wide policy framework on online wildlife trade." Wild live animals and plants or products derived from them through an illegal manner are the primary focus of the initiative.
    • Though notable absentees include Amazon and Facebook, the proliferation of e-commerce and online marketplaces alongside the growth of a complex wildlife trade have clearly sparked a response from the platforms these items may appear on.
    | Fri, Aug. 12, 3:40 PM | 13 Comments
  • Mon, Jul. 25, 4:41 AM
    • China's top internet regulator has ordered major online companies including Sina Corp. (NASDAQ:SINA) Tencent (OTCPK:TCEHY), (NASDAQ:SOHU) and NetEase (NASDAQ:NTES) to stop original news reporting, tightening its grip over the country's web and information industries.
    • President Xi Jinping has stressed that Chinese media must serve the interests of the ruling Communist Party, giving authorities near-absolute control over online news and political discourse.
    | Mon, Jul. 25, 4:41 AM | 3 Comments
  • Thu, Jul. 14, 4:31 AM
    • Tencent (OTCPK:TCEHY) is boosting its stake in China Music Corp. to about 60% from 16%, in a deal that values the firm at roughly $2.7B.
    • The agreement will turn China's biggest social-networking and entertainment company into a clear market leader of online music, bringing together the country's top-three mobile music apps.
    • CMC owns Kugou and Kuwo, while Tencent operates QQ Music.
    | Thu, Jul. 14, 4:31 AM
  • Tue, Jul. 5, 8:27 AM
    • Tencent (OTCPK:TCEHY) is in talks with potential investors including the Canada Pension Plan Investment Board, China Investment and Hillhouse Capital to participate in its $8.6B acquisition of Supercell from SoftBank (OTCPK:SFTBY).
    • According to a document viewed by the WSJ, potential participants in the consortium expect that an investment in Supercell could bring an average annual return of 36% in the next four years.
    | Tue, Jul. 5, 8:27 AM | 1 Comment
  • Tue, Jun. 21, 3:50 AM
    • Tencent (OTCPK:TCEHY) has reached an agreement to buy Supercell Oy, the maker of the popular "Clash of Clans," in a deal that could turn the Chinese internet major into a global video game powerhouse.
    • According to WSJ sources, details of the deal will be announced later today. It was previously reported that Tencent had been in talks with SoftBank (OTCPK:SFTBY) to buy the company's majority stake in Supercell at a $9B valuation.
    • Update: Tencent and its partners will pay $8.6B to buy Softbank's (OTCPK:SFTBY) 84.3% stake in Supercell Oy.
    | Tue, Jun. 21, 3:50 AM | 2 Comments
  • Wed, Jun. 15, 1:03 PM
    • Chinese messaging/gaming leader Tencent (OTCPK:TCEHY) is close to a deal to buy SoftBank's (OTCPK:SFTBF) controlling stake in Finnish mobile game developer Supercell at a ~$9B valuation, sources tell the WSJ.
    • The paper, which first reported of Tencent's interest in Supercell last month, adds Tencent is talking with "several financial investors" to join the deal as co-investors. SoftBank had a 73% stake in Supercell as of last year. Supercell, responsible for Clash of Clans and other hits, was reportedly valued at $5.25B in 2015.
    • The report comes as Tencent cautions its rapid ad sales growth (+73% Y/Y in Q1) is about to slow down.
    | Wed, Jun. 15, 1:03 PM | 8 Comments
  • Mon, Jun. 6, 10:07 AM
    • Search giant Baidu (BIDU +1%), messaging/gaming giant Tencent (OTCPK:TCEHY), and #2 Chinese e-commerce firm (JD +1.8%) are each investing $50M in leading Chinese online auto platform Bitauto (BITA +12%). Bitauto is also selling $150M worth of convertible bonds to investment firm PAG.
    • Baidu, Tencent, and JD are each buying 2.47M Bitauto shares at $20.23 apiece ($0.23 below Friday's close). The deal follows JD and Tencent's $1.55B 2015 investment in the company, and respectively leaves JD, Tencent, and Baidu holding 23.5%, 7.1%, and 3.2% stakes.
    • The bonds are due five years from issuance, and carry a 2% interest rate and $23.67/share conversion price. Owners of the convertible debt will hold an 8.2% stake. Bitauto chairman/CEO William Li will be buying a portion of the debt through PAG, by means of a total return swap agreement.
    • Bitauto is up sharply. Rival Autohome (ATHM +3.2%) is posting moderate gains. Li: "Through our new partnership with Baidu, we expect to leverage its leadership in mobile and desktop online search, big data and transaction services platforms for additional strategic advantages as we continue to create the industry leading new and used car purchasing experience for customers in China."
    | Mon, Jun. 6, 10:07 AM | 1 Comment
  • Mon, May 23, 11:10 AM
    • Tencent (OTCPK:TCEHY +0.5%) is in early-stage talks to take over SoftBank's (OTCPK:SFTBY +1.9%) majority position in Finnish mobile-game maker Supercell, The Wall Street Journal reports.
    • Supercell makes popular combat simulator Clash of Clans, and SoftBank took majority control with a $1.53B investment in 2013, before growing its stake last year to 73%.
    • Also last year, Alibaba (of which SoftBank is the biggest shareholder) teamed up with China's Giant Interactive Group to talk about taking control of Supercell, though price has hung up those discussions. And Supercell is said to prefer having autonomy under SoftBank's umbrella.
    • Sources say that Supercell was valued about $5.25B last year. Its most recent game, Clash Royale, was the top-grossing mobile game for March with more than $80M.
    • Now read Tencent: Like Buying Facebook At A Bargain »
    | Mon, May 23, 11:10 AM | 1 Comment
  • Wed, May 18, 11:53 AM
    • Tencent Holdings (OTCPK:TCEHY) is down 1.4% in U.S. trading following Q1 results where revenues grew sharply Y/Y but the company warned of slowdowns ahead.
    • Operating profits and revenues both grew 43%. Net profit was up 33% to 9.18B yuan.
    • EBITDA of 14.33B yuan grew 44% and beat an expected 12.12B yuan.
    • WeChat/Weixin numbered 762M monthly active users (up 39%), while QQ numbered 877M active accounts (up 5%).
    • Tencent warned about ad inventory monetization in the nearer term: "While we are optimistic about the long-term growth potential of our online advertising business, our brand advertising business could face near-term challenges due to the uncertainties of macroeconomic environment in China."
    • Analyst consensus is for Q2 EPS to come in flat sequentially at 1.06 yuan, and for revenues down 1.1% sequentially to 31.6B yuan and EBITDA down 13% sequentially to 12.49B yuan.
    • Press Release
    | Wed, May 18, 11:53 AM
  • Wed, May 18, 8:57 AM
    | Wed, May 18, 8:57 AM
  • Fri, Mar. 25, 5:50 AM
    • "If you took our top 30 cities today, today they're generating over $1B in profit a year, just our top 30 cities. And that profit multiplies every year because we're growing," Uber (Private:UBER) CEO Travis Kalanick said in an interview yesterday. "That helps us to sustainably invest in our Chinese efforts... Because of the profits we have globally, this is something we can do for the long run."
    • In February, Uber said it was losing more than $1B a year in China's red-hot ride-hailing market where it is battling with Didi Kuaidi, backed by Chinese technology giants Tencent (OTCPK:TCEHY, OTCPK:TCTZD) and Alibaba (NYSE:BABA).
    • "The key for (us in) China is to move fast," he said. "If we launch in the U.S. and then it gets copied in China, we'll be behind. So we're starting to orient some of our innovation at China first."
    • Now read Interview With An Angel Investor »
    | Fri, Mar. 25, 5:50 AM | 54 Comments