Tencent Holdings' 3Q22 Tencent's online advertising revenue was 21.4 billion yuan, a year-on-year decrease of 4.7% and a month-on-month increase of 15.0%. The demand in the gaming, e-commerce and fast-moving consumer goods industries improved and the adverse factors in the advert

Tencent Holdings Q22 Tencent Network's online advertising revenue was 21.4 billion yuan, a year-on-year decrease of 4.7%, and increased by by 15.0% month-on-month. The demand in the gaming, e-commerce and fast-moving consumer goods industries improved and the adverse factors in the industry where advertisers were located weakened. Among them, social advertising revenue was 18.9 billion yuan, a year-on-year decrease of 1%, a significant improvement from the -17% decline in the previous quarter, mainly due to the strong demand for video information flow advertising; media advertising revenue was 2.6 billion yuan, a year-on-year decrease of 26%. Video Account officially launched information flow advertising in July, and the progress of commercialization is expected to continue to accelerate, and video account advertising with higher gross profit margins is expected to drive the overall gross profit margin of the advertising business. WeChat advertising has shown good ecological effects. After the video account advertising starts commercialization, it forms a joint force with the existing advertising business, rather than a competitive relationship. In addition to the video account revenue, WeChat advertising revenue also achieved year-on-year growth in . Among them, mini-program advertising revenue grew rapidly, with the number of daily active accounts exceeding 600 million, a year-on-year growth of more than 30%. The average daily usage achieved faster growth, with a year-on-year growth of more than 50%. According to estimates, Tencent Video Account is expected to contribute 1 billion yuan in revenue in 22Q4, and is expected to contribute about 30 billion yuan in revenue after 2025.

Yaokang Bio's performance continues to grow rapidly. Yaokang Bio was founded in 2017. It was formerly the Institute of Model Animals at Nanjing University. Its main business is to sell commercial mouse models with independent intellectual property rights, and to carry out one-stop services such as model customization, customized breeding, and functional drug efficacy analysis. Revenue Profit continues to grow rapidly, with revenue in 2021 being 394 million yuan, with a compound annual growth rate of 95% from 2018 to 2021, with a net profit attributable to shareholders of 125 million yuan in 2021, and a compound annual growth rate of CAGR from 2018 to 2021 reaching 179%.