The online gaming business of this social and gaming giant continues to benefit from the pandemic, while Tencent has also played down the impact from regulation.
Social and gaming giant Tencent(Tencent)Thursday announced a surge in revenue and downplayed the impact from regulation. At present, regulatory agencies are increasingly showing a willingness to constrain the power of technology giants. This month, as regulation continues to tighten, Ant Group, a leading financial technology company(Ant Group) 370$100 million initial public offering(IPO)It has been suspended and another set of antitrust guidelines for the internet industry has been released this week, marking the first time regulators have taken a heavy blow to curb monopolistic behavior in the industry. However, Tencent President Martin Lau(Martin Lau)The potential impact of these rules has been downplayed, implying that the new regulations will have a more direct impact on competitors in the e-commerce field. "With the increasing scale of technology enterprises, they are becoming more and more important to the economy... More rules reflect this new reality," Martin Lau said. We grow in competition Tencent Enterprise reported year-on-year growth in total revenue29%, to1250RMB 100 million (total189Billion US dollars, exceeding analysts' expectations, as its online gaming business continues to benefit from anti epidemic lockdown measures. Peace Elite(Peacekeeper Elite)And 'Glory of the King'(Honor of Kings)Waiting for popular domestic games to help the company achieve year-on-year growth in online game sales45%。 After adjusting for certain one-time gains, the company's net profit increased in the third quarter32%, to320RMB 100 million. Martin Lau said that as a major driver of Tencent's revenue, games are more like specific products than the platform business targeted by regulators. Our ambition is not to rule, "said James Mitchell, Chief Strategic Officer of the company's gaming business(James Mitchell)express. Tencent's own video streaming platform users have increased to1.2Martin Lau said, "At present, this is actually a business that loses a little money, so it may not be the focus of the regulatory authorities." Tencent is still directly competing with ants in the fields of mobile payments and online lending, but executives say they believe it has disrupted antsIPOThe draft of the new regulations on online lending has little impact on Tencent, as most of the company's loans are made by its WeBank subsidiary(WeBank)Issued. The financial technology department, including business services, contributed to Tencent this quarter26%Income. However, since the release of antitrust rules on Tuesday, Tencent's stock price has fallen7%Huaxing Capital(China Renaissance)Analyst Liu Zhanxiang(Alex Liu)Investors will be relieved to hear executives directly discussing these regulations, "he said Although the regulatory framework is truly comprehensive, it may have a smaller impact on Tencent Tencent Holdings16.5%Pinduoduo, a retail giant in China(Pinduoduo)Revenue growth was also announced on Thursday. Pinduoduo reported quarterly revenue growth year-on-year89%, to142RMB 100 million and achieved4.66Adjusted net profit of RMB 100 million. Its stocks listed in New York rose in the early trading session22.5%。 The company has proven that it can achieve profitability on a quarterly basis, but the question is whether they can maintain growth in total commodity value without subsidies(Pacific Epoch)ofSteven Zhuexpress. Calculated proportionally, Pinduoduo's expenses for subsidizing its products have indeed decreased this quarter, with sales and marketing expenses, including subsidies, equivalent to71%, lower than the same period last year92%。 Pinduoduo complained that "existing participants" - alluding to Alibaba(Alibaba)——Utilizing its dominant position in the Chinese e-commerce market, forcing merchants to give up selling on Pinduoduo's platform. But as Pinduoduo attracts users by selling cheap goods, Alibaba's control over the Chinese e-commerce sector is also weakening. In the third quarter, the total number of annual shoppers in Pinduoduo increased to7.31Yiyi, closely following Alibaba's7.57One billion. |
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