In 2021, Tencent's main business revenue reached 560.118 billion yuan, a year-on-year increase of 16%; net profit attributable to the company's shareholders was 224.822 billion yuan, a year-on-year increase of 41%; net profit under non- International Financial Reporting Standards was 123.788 billion yuan, a year-on-year increase of 1%. This is also the year with the lowest net profit growth in Tencent in the past decade.
In the fourth quarter, Tencent's main business revenue was 144.188 billion yuan, a year-on-year increase of 8%; net profit attributable to the company's shareholders was 94.958 billion yuan, a year-on-year increase of 60%; net profit under non-international financial reporting standards was 24.88 billion yuan, a year-on-year decrease of 25%, and net profit has declined for two consecutive quarters.
// Maintain continuous investment in strategic business and technological innovation //
Although short-term performance is under pressure, Tencent still maintains continuous investment in strategic business and technological innovation, and the self-developed ecosystem has gradually improved, and a complete self-developed system for companies including servers, operating systems, chips, SaaS, etc. has gradually improved the underlying capabilities of serving the real economy. The digital economic income, mainly serving the B-side, has also become Tencent's new growth engine. Since the 930 reform in 2018, Tencent has accelerated the strategic upgrade and architectural adjustment of the industrial Internet to embrace the industrial Internet. In terms of user data of
, as of the end of 2021, the number of combined monthly active users of WeChat and WeChat was 1.268 billion, a year-on-year increase of 3.5% and a month-on-month increase of 0.4%; the number of mobile mobile users of QQ was 552 million, a year-on-year decrease of 7.2% and a month-on-month decrease of 3.8%.
is divided by business. In 2021, Tencent's revenue from online games was 174.3 billion yuan, a year-on-year increase of 11.66%, accounting for about 31.1% of the total revenue. Among them, the game revenue from the local market was 128.8 billion yuan, a year-on-year increase of 6%; the game revenue from the international market was 45.5 billion yuan, a year-on-year increase of 31%.
In terms of minor protection, the financial report disclosed that in the fourth quarter of 2021, the total duration of minor games decreased by 88% year-on-year, accounting for 0.9% of the total duration of Tencent’s local market game. The total turnover of minors decreased by 73% year-on-year, accounting for 1.5% of the total turnover of Tencent’s local market.
Tencent said that looking forward to the future, it is expected that the impact of protection measures for minors will be fully digested in the second half of 2022. After the new version number is issued, Tencent will benefit from the launch of more new games.
In addition, driven by the live broadcast service of video accounts, paid video membership services and the revenue contribution brought by the merger of Huya in April 2020, Tencent's revenue from social networks increased by 8% year-on-year to 117.3 billion yuan in 2021, accounting for 20.9% of the total revenue.
In 2021, the number of paid members of Tencent paid value-added services increased by 8% year-on-year to 236 million, of which the number of paid members of Tencent Video increased by 1% year-on-year to 124 million. The financial report shows that in view of the recent market environment, Tencent is taking measures to optimize costs and reduce Tencent Video's financial losses.
During the reporting period, Tencent's revenue from online advertising business was 88.6 billion yuan, an increase of 8% year-on-year, accounting for about 15.8% of the total revenue. Among them, social and other advertising revenue increased by 11% year-on-year to 75.3 billion yuan; media advertising revenue fell by 7% to 13.3 billion yuan.
financial report said that in the first half of 2021, the online advertising business grew strongly. After that, as advertisers and Tencent’s advertising business adapted to the new economic and regulatory environment in the third and fourth quarters, Tencent’s advertising revenue slowed down significantly in the second half of the year and then decreased.
Finally, Tencent's revenue from financial technology and enterprise services in 2021 was 172.2 billion yuan, a year-on-year increase of 34%, accounting for about 30.7% of the total revenue.
Regarding enterprise service business, the financial report pointed out that at present, Tencent is prioritizing expanding the scale of SaaS business rather than pursuing significant revenue. At the same time, in view of the changes in the market environment, Tencent is re-establishing the development focus of IaaS and PaaS, from simply pursuing revenue growth to creating value for customers and achieving high-quality growth.
It is worth noting that although Tencent’s revenue from financial technology and enterprise services in 2021 is still lower than game revenue, the gap is already very small. In the fourth quarter of 2021, the proportion of revenue from financial technology and enterprise services increased to 33%, surpassing the gaming sector for the first time.
As of the end of 2021, Tencent had 112,771 employees, compared with 85,858 in the same period in 2020.At the same time, Tencent has free cash flow 33.5 billion yuan, and its equity in listed investment company (excluding subsidiaries) is 982.8 billion yuan.
// Will there still be large-scale repurchase? //
As the repurchase effect continues to emerge, the market is full of expectations for the next company that may start large-scale repurchase. With the launch of large-scale stock repurchase by Alibaba and Xiaomi , the market speculates that Tencent may become the next Internet giant to launch stock repurchase. After all, Tencent's stock price has fallen by half compared to the beginning of 2021.
Since Tencent's stock price hit a high of HK$775 in January 2021, its stock price has continued to fluctuate and fall. On March 15, 2022, Tencent Hong Kong stock fell to HK$297, only 40% left from the high. Some netizens joked that "Tencent fell to Fivecent." Subsequently, Tencent's stock price rebounded, closing at HK$389 on March 23, and its market value still shrank by nearly HK$4 trillion from its 2021 high.
Tencent Holdings ADR share price fell, and as of the close, the stock fell 5.43% to $47.86.
// Hong Kong Stock Connect sold about HK$6.009 billion throughout the day //
On March 23, among the active trading list of stocks in the , Tencent Holdings sold about HK$6.009 billion throughout the day, and net purchases were about HK$1.228 billion.
Among them, among the top ten active stocks in the Shanghai Stock Exchange, Tencent Holdings' transaction volume was HK$3.439 billion, ranking first in transaction amount.
Among the top ten active stocks in the Shenzhen Stock Exchange, Tencent Holdings still ranked first in the transaction volume, with a transaction amount of HK$2.57 billion.
// Public funds still favor //
Data shows that public institutions, including the "top public offering" Zhang Kun , have always maintained a high enthusiasm for Tencent.
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