SimplyGood
2021-05-20
Is this revenue sustainable?
Tencent's revenue in Q1 was RMB 135.303 billion, up 25% YOY<blockquote>腾讯Q1营收1353.03亿元，同比增长25%</blockquote>
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Our listed investment portfolio experienced meaningful value appreciation, while contributing mixed results to our associate income, with certain investees delivering wider associate losses due to their investments in new initiatives ","content":"<p>Tencent Holdings Ltd announce the unaudited consolidated results of the Group for the three months ended 31 March 2021.Qtrly revenues rmb135,303 million versus rmb108,065 million;Qtrly profit attributable rmb47,767 million versus rmb28,896 million;Qtrly revenues from online advertising increased by 23% to rmb21.8 billion;At march 31, combined mau of Weixin and Wechat 1,241.6 mln vs 1,202.5 mln</p><p><blockquote>腾讯控股控股有限公司公布本集团截至二零二一年三月三十一日止三个月的未经审核综合业绩。季度收入人民币1,353.03亿元对人民币1,080.65亿元；季度应占利润为人民币477.67亿元，而人民币288.96亿元；网络广告收入环比增长23%至人民币218亿元；截至3月31日，微信和微信的综合mau为12.416亿，对12.025亿</blockquote></p><p><img src=\"https://static.tigerbbs.com/ef747fb05541ddadd1692176ff991907\" tg-width=\"1189\" tg-height=\"730\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b6e7f63c7c50a15ef1ca004b51c7d38f\" tg-width=\"1187\" tg-height=\"235\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>BUSINESS REVIEW AND OUTLOOK </b></p><p><blockquote><b>业务回顾与展望</b></blockquote></p><p>During the quarter, we achieved notable growth for our business services as well as online advertising revenue streams, while stepping up our investment in areas including business services and enterprise software, high-production-value games, and short-form video. Our listed investment portfolio experienced meaningful value appreciation, while contributing mixed results to our associate income, with certain investees delivering wider associate losses due to their investments in new initiatives such as community group buying activities. Overall, we believe we sustained healthy operational and financial results during a period when the China Internet industry as a whole is undergoing a heavy investment phase. Here are some highlights of our key products and business lines for the quarter:</p><p><blockquote>本季度，我们的商业服务和在线广告收入流实现了显著增长，同时加大了对商业服务和企业软件、高产值游戏和短视频等领域的投资。我们的上市投资组合经历了有意义的增值，同时为我们的联营公司收入贡献了好坏参半的业绩，而若干被投资方由于投资于社区团购活动等新举措而产生了更广泛的联营公司亏损。总体而言，我们相信，在中国互联网行业整体处于投资高峰期之际，我们维持了稳健的营运及财务业绩。以下是我们本季度主要产品和业务线的一些亮点：</blockquote></p><p><b>Weixin </b></p><p><blockquote><b>伟信</b></blockquote></p><p>Weixin Video Accounts continued to gain user and content creator traction as we build the content ecosystem. We have increased our efforts in attracting and incubating content creators by providing customised onboarding services and ongoing operational support. Mini Programs’ ecosystem is thriving with deeper penetration among small and medium-sized businesses. Our low-code development platform enables smaller businesses to develop Mini Programs more cost-effectively. We provided more tools to assist system integrators and the number of active Mini Programs they served more than tripled year-on-year.</p><p><blockquote>随着我们构建内容生态系统，微信视频账号继续获得用户和内容创作者的关注。我们通过提供定制化的入职服务和持续的运营支持，加大了吸引和培养内容创作者的力度。小程序生态系统正在蓬勃发展，在中小企业中的渗透也越来越深。我们的低代码开发平台使小型企业能够更具成本效益地开发小程序。我们提供了更多工具来帮助系统集成商，他们服务的活跃小程序数量同比增长了两倍多。</blockquote></p><p><b>QQ and Digital Content </b></p><p><blockquote><b>QQ与数字内容</b></blockquote></p><p>We are leveraging technology to better integrate social and content consumption experiences at QQ, such as seamless experiences between instant messaging and games. Users can team up with QQ friends to start a multi-player game battle with one click. For in-game friends who are not on QQ, users can communicate with them synchronously via Game Center. They can also stay up-to-date with game events via QQ Mini Programs. Looking forward, QQ’s new leadership team will seek to upgrade the service’s technology, operations and content, and better serve the social and entertainment needs of young users.</p><p><blockquote>我们正在利用技术更好地整合QQ的社交和内容消费体验，例如即时通讯和游戏之间的无缝体验。用户可以与QQ好友组队，一键开启多人游戏对战。对于不在QQ上的游戏内好友，用户可以通过游戏中心与其同步沟通。他们还可以通过QQ小程序了解最新的游戏事件。展望未来，QQ 的新领导团队将寻求升级服务的技术、运营和内容，更好地服务于年轻用户的社交和娱乐需求。</blockquote></p><p>Our fee-based VAS subscriptions grew 14% year-on-year to 226 million. Video subscriptions increased 12% year-on-year to 125 million, benefitting from adaptation of certain IPs, such as The Land of Warriors, into animated and live action drama series. Our self-commissioned variety shows such as Chuang 2021 and Roast Season 5 attained popularity. Music subscriptions increased 43% year-on-year to 61 million, primarily driven by better content, effective marketing campaigns and an improved retention rate.</p><p><blockquote>我们的收费增值税订阅量同比增长 14%，达到 2.26 亿。视频订阅量同比增长 12% 至 1.25 亿，受益于将某些 IP（如《无双之地》）改编为动画和真人剧集。《创2021》、《烤肉第五季》等自制综艺节目广受欢迎。音乐订阅量同比增长 43%，达到 6100 万，主要得益于更好的内容、有效的营销活动和提高的保留率。</blockquote></p><p>We are merging the Tencent Video and WeiShi teams to upgrade their algorithmic recommendations, bring integrated viewing experiences to users, and enrich short video clips adapted from our long form video library. We have announced leadership changes in TME, aiming to enhance the co-operation and synergies between our digital content services, as well as with our social communities.</p><p><blockquote>我们正在合并腾讯控股视频和微视团队，以升级他们的算法推荐，为用户带来一体化的观看体验，并丰富从我们的长格式视频库改编的短视频片段。我们宣布了TME的领导层变动，旨在加强我们的数字内容服务之间以及与我们的社交社区之间的合作和协同效应。</blockquote></p><p><b>Games </b></p><p><blockquote><b>游戏</b></blockquote></p><p>Our aggregate user engagement and user spending increased year-on-year despite the high base due to stay-at-home impact in the first quarter of 2020. We released Honour of Kings’ biggest-ever update in January to improve its graphics and game experiences, and then launched appealing marketing campaigns with top-tier skins during the Chinese New Year, which drove the game’s DAU and paying users to record highs in February. We reduced the application file size of PUBG Mobile and enhanced our local market operational capabilities, boosting PUBG Mobile’s DAU in EMEA countries. League of Legends benefitted significantly from the release of bigger and better Lunar Revel content across PC and mobile devices, as well as across its core game mode and Teamfight Tactics.</p><p><blockquote>尽管由于2020年第一季度居家影响，基数较高，但我们的用户参与度和用户支出总额同比增长。我们在 1 月份发布了《王者荣耀》有史以来最大的更新，以改善其画面和游戏体验，然后在农历新年期间推出了顶级皮肤的吸引人的营销活动，这使得游戏的 DAU 和付费用户在 2 月份创下了历史新高。我们缩小了 PUBG Mobile 的应用文件大小，增强了本地市场运营能力，提高了 PUBG Mobile 在 EMEA 国家的 DAU。《英雄联盟》从PC和移动设备上发布更大更好的月球狂欢内容以及其核心游戏模式和团队战术中受益匪浅。</blockquote></p><p></p><p>We are also cultivating emerging genres beyond these large audience games. For example, our new titles Komori Life and The Walnut Diary ranked among China’s top ten life simulation mobile games by DAU in April 2021. Our games pipeline covers a wide spectrum of genres, including Action, MOBA and Survival. For China, many of the new games are adapted from popular existing game and literature IPs. Internationally, we expect our substantial prior investments in best-in-class PC, console and mobile studios to begin contributing a range of genre-innovating games in the quarters to come.</p><p><blockquote>除了这些大型受众游戏之外，我们还在培养新兴类型。例如，我们的新作《小森生活》和《核桃日记》在2021年4月被DAU评为中国十大生活模拟手机游戏之一。我们的游戏产品线涵盖了广泛的类型，包括动作、MOBA和生存。对于中国来说，许多新游戏都是根据现有热门游戏和文学IP改编的。在国际上，我们预计我们之前对一流个人电脑、游戏机和移动工作室的大量投资将在未来几个季度开始为一系列类型创新的游戏做出贡献。</blockquote></p><p><b>Online Advertising </b></p><p><blockquote><b>网络广告</b></blockquote></p><p>We enhanced the transaction capabilities of our advertising properties via linkage with Weixin Mini Programs and upgraded marketing solutions for key industries including games, retail and automobile-related verticals, delivering higher sales conversion and ROIs for advertisers. Advertisers’ adoption of Mini Programs as landing pages increased substantially, demonstrating growing recognition of Weixin as a transaction-generating environment. Our mobile advertising network continued to benefit from increased video advertising inventories primarily within games, online reading and tool apps. For the rest of 2021, industry uncertainties include potential regulatory headwinds for K-12 education and potential delays to the release schedule of our video content.</p><p><blockquote>我们通过与微信小程序联动，提升广告物业的交易能力，为游戏、零售、汽车相关垂直行业等重点行业升级营销解决方案，为广告主带来更高的销售转化率和投资回报率。广告商采用小程序作为落地页的数量大幅增加，这表明人们越来越认识到微信是一个产生交易的环境。我们的移动广告网络继续受惠于主要在游戏、在线阅读及工具应用内的视频广告库存增加。在2021年剩余时间里，行业的不确定性包括K-12教育的潜在监管阻力以及我们视频内容发布时间表的潜在延迟。</blockquote></p><p><b>FinTech </b></p><p><blockquote><b>金融科技</b></blockquote></p><p>Our commercial payments volume benefitted from rising adoption of mobile payment in China due to consumption growth and an expanding digital economy. As people travelled less and consumed more during the Chinese New Year holiday, offline payment transactions increased sequentially, particularly in retail and dining services.</p><p><blockquote>我们的商业支付量受惠于中国因消费增长及数字经济不断扩大而日益普及移动支付。由于春节假期期间人们出行减少，消费增加，线下支付交易环比增加，尤其是零售和餐饮服务。</blockquote></p><p>Weixin Pay has been assisting small and medium-sized merchants in China to grow and digitalise their businesses. We are committing significant subsidies, resources and services to small and medium-sized merchants, to further reduce their operating costs and enhance their operational efficiency.</p><p><blockquote>微信支付一直在帮助中国的中小商户发展和数字化业务。我们向中小商户提供大量补贴、资源和服务，以进一步降低他们的营运成本，提高他们的营运效率。</blockquote></p><p><b>Cloud and Other Business Services </b></p><p><blockquote><b>云和其他业务服务</b></blockquote></p><p>Leveraging our strengths in security, communication and CRM solutions, we expanded our PaaS and SaaS businesses during the quarter. To better position ourselves for the opportunities in China’s nascent SaaS market, we have established our SaaS ecosystem program to nurture the growth of SaaS providers and facilitate digitalisation of enterprise clients. We launched our Enterprise App Connector with unified login accounts and data flow across different SaaS products, allowing SaaS providers to develop and deliver their products more efficiently, while facilitating better coordination of multiple SaaS solutions by enterprise clients</p><p><blockquote>利用我们在安全、通信和CRM解决方案方面的优势，我们在本季度扩大了我们的PaaS和SaaS业务。为了更好地把握中国新兴的 SaaS 市场的机遇，我们建立了 SaaS 生态系统计划，以培育 SaaS 提供商的发展，并促进企业客户的数字化。我们推出了具有统一登录帐户和跨不同SaaS产品的数据流的企业应用连接器，使SaaS提供商能够更高效地开发和交付其产品，同时促进企业客户更好地协调多个SaaS解决方案</blockquote></p><p><b>Investments for the Future</b></p><p><blockquote><b>未来投资</b></blockquote></p><p>We believe that we are still in the early stage of the global digital transformation. The advance of technology will present ample opportunities for our Consumer Internet and Industrial Internet activities. Consequently, we are proactively increasing our rate of investment in new opportunities by investing a portion of our incremental profits for 2021, which we believe will deliver high returns in the long run. Incremental investments will include the following areas – business services, games and short-form video content. </p><p><blockquote>我们认为，我们仍处于全球数字化转型的早期阶段。技术的进步将为我们的消费互联网和工业互联网活动提供充足的机会。因此，我们正在通过投资2021年的部分增量利润来主动提高对新机会的投资率，我们相信从长远来看，这将带来高回报。增量投资将包括以下领域——商业服务、游戏和短视频内容。</blockquote></p><p></p><p><ul><li>Business Services: We will make further investments in areas such as headcount and infrastructure to support the rapid growth of our business. We will strengthen our productivity SaaS products and security software as well as partnerships with and investments in SaaS providers and Independent Software Vendors, supporting our clients’ digital needs. Through enhancing our upsell and cross-sell capabilities in key verticals such as healthcare, retail, education and transportation, we will provide smart solutions for enterprises and consumer-facing products for users.</li></ul><ul><li>Games: We are stepping up our investments in game development, and in particular focusing on large-scale and high-production-value games that can appeal to users globally. We are also investing further in new types of games serving more targeted audiences, building up IP franchises and developing them across media, and investing in advanced technologies for next generation game experiences such as cloud games. </li></ul><ul><li>Short-Form Video Content: We are now incubating the content ecosystem for Video Accounts which connect users with real-life content and bridge high-quality content creators with their customers. We will provide production and monetisation tools to content creators, optimise social-driven recommendation, enrich knowledge-based content as well as add servers and bandwidth to support Video Accounts’ solid growth. We are strengthening the synergies between our long-form and short-form video services. Through the merger of Tencent Video and WeiShi, we will empower long-form video leveraging our short-form capabilities. We will escalate self-commissioned production to further expand our IP content library, and provide video clips that can be adapted by our creator network. </li></ul>As a technology company serving a broad base of users and enterprises, we recognise our social responsibility and the opportunities for us to create significant social value through innovations. Consequently, we integrated our Corporate Social Responsibility and charitable activities into a new Sustainable Social Value Organisation. We will invest an initial capital of RMB50 billion, to be funded by our investment gains, in areas including basic science, education innovation, rural revitalisation, carbon neutrality, food/energy/water provision, assisting with public emergencies, technology for senior citizens and public welfare. This upgrade aims to implement our mission of “Tech for Good” and marks a new phase of development for the Company.</p><p><blockquote><ul><li>商业服务：我们将在员工数量和基础设施等领域进行进一步投资，以支持我们业务的快速增长。我们将加强生产力 SaaS 产品和安全软件，以及与 SaaS 提供商和独立软件供应商的合作和投资，支持客户的数字化需求。通过提升我们在医疗、零售、教育、交通等重点垂直领域的追加销售和交叉销售能力，我们将为企业提供智能解决方案，为用户提供面向消费者的产品。</li></ul><ul><li>游戏：我们正在加大对游戏开发的投入，尤其关注能够吸引全球用户的大型高制作价值游戏。我们还进一步投资于服务更多目标受众的新型游戏，建立知识产权特许经营权并跨媒体开发，以及投资云游戏等下一代游戏体验的先进技术。</li></ul><ul><li>短视频内容：我们目前正在孵化视频账户的内容生态系统，将用户与现实生活中的内容联系起来，并将优质内容创作者与其客户联系起来。我们将为内容创作者提供制作和货币化工具，优化社交驱动的推荐，丰富基于知识的内容，并增加服务器和带宽，以支持视频账户的稳步增长。我们正在加强长格式和短格式视频服务之间的协同效应。通过腾讯控股视频与微视的合并，我们将利用我们的短视频能力赋能长视频。我们将升级自我委托制作，以进一步扩大我们的IP内容库，并提供可由我们的创作者网络改编的视频剪辑。</li></ul>作为一家服务于广大用户和企业的科技公司，我们深知我们的社会责任以及通过创新创造重大社会价值的机会。因此，我们将企业社会责任和慈善活动整合为一个新的可持续社会价值组织。我们将在基础科学、教育创新、乡村振兴、碳中和、粮食╱能源╱水供应、突发公共事件救助、老年科技、公益事业等领域投入首期资金人民币500亿元。此次升级旨在实现我们 “科技向善 ”的使命，标志着公司进入了一个新的发展阶段。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTencent's revenue in Q1 was RMB 135.303 billion, up 25% YOY<blockquote>腾讯Q1营收1353.03亿元，同比增长25%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-05-20 16:38</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Tencent Holdings Ltd announce the unaudited consolidated results of the Group for the three months ended 31 March 2021.Qtrly revenues rmb135,303 million versus rmb108,065 million;Qtrly profit attributable rmb47,767 million versus rmb28,896 million;Qtrly revenues from online advertising increased by 23% to rmb21.8 billion;At march 31, combined mau of Weixin and Wechat 1,241.6 mln vs 1,202.5 mln</p><p><blockquote>腾讯控股控股有限公司公布本集团截至二零二一年三月三十一日止三个月的未经审核综合业绩。季度收入人民币1,353.03亿元对人民币1,080.65亿元；季度应占利润为人民币477.67亿元，而人民币288.96亿元；网络广告收入环比增长23%至人民币218亿元；截至3月31日，微信和微信的综合mau为12.416亿，对12.025亿</blockquote></p><p><img src=\"https://static.tigerbbs.com/ef747fb05541ddadd1692176ff991907\" tg-width=\"1189\" tg-height=\"730\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b6e7f63c7c50a15ef1ca004b51c7d38f\" tg-width=\"1187\" tg-height=\"235\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>BUSINESS REVIEW AND OUTLOOK </b></p><p><blockquote><b>业务回顾与展望</b></blockquote></p><p>During the quarter, we achieved notable growth for our business services as well as online advertising revenue streams, while stepping up our investment in areas including business services and enterprise software, high-production-value games, and short-form video. Our listed investment portfolio experienced meaningful value appreciation, while contributing mixed results to our associate income, with certain investees delivering wider associate losses due to their investments in new initiatives such as community group buying activities. Overall, we believe we sustained healthy operational and financial results during a period when the China Internet industry as a whole is undergoing a heavy investment phase. Here are some highlights of our key products and business lines for the quarter:</p><p><blockquote>本季度，我们的商业服务和在线广告收入流实现了显著增长，同时加大了对商业服务和企业软件、高产值游戏和短视频等领域的投资。我们的上市投资组合经历了有意义的增值，同时为我们的联营公司收入贡献了好坏参半的业绩，而若干被投资方由于投资于社区团购活动等新举措而产生了更广泛的联营公司亏损。总体而言，我们相信，在中国互联网行业整体处于投资高峰期之际，我们维持了稳健的营运及财务业绩。以下是我们本季度主要产品和业务线的一些亮点：</blockquote></p><p><b>Weixin </b></p><p><blockquote><b>伟信</b></blockquote></p><p>Weixin Video Accounts continued to gain user and content creator traction as we build the content ecosystem. We have increased our efforts in attracting and incubating content creators by providing customised onboarding services and ongoing operational support. Mini Programs’ ecosystem is thriving with deeper penetration among small and medium-sized businesses. Our low-code development platform enables smaller businesses to develop Mini Programs more cost-effectively. We provided more tools to assist system integrators and the number of active Mini Programs they served more than tripled year-on-year.</p><p><blockquote>随着我们构建内容生态系统，微信视频账号继续获得用户和内容创作者的关注。我们通过提供定制化的入职服务和持续的运营支持，加大了吸引和培养内容创作者的力度。小程序生态系统正在蓬勃发展，在中小企业中的渗透也越来越深。我们的低代码开发平台使小型企业能够更具成本效益地开发小程序。我们提供了更多工具来帮助系统集成商，他们服务的活跃小程序数量同比增长了两倍多。</blockquote></p><p><b>QQ and Digital Content </b></p><p><blockquote><b>QQ与数字内容</b></blockquote></p><p>We are leveraging technology to better integrate social and content consumption experiences at QQ, such as seamless experiences between instant messaging and games. Users can team up with QQ friends to start a multi-player game battle with one click. For in-game friends who are not on QQ, users can communicate with them synchronously via Game Center. They can also stay up-to-date with game events via QQ Mini Programs. Looking forward, QQ’s new leadership team will seek to upgrade the service’s technology, operations and content, and better serve the social and entertainment needs of young users.</p><p><blockquote>我们正在利用技术更好地整合QQ的社交和内容消费体验，例如即时通讯和游戏之间的无缝体验。用户可以与QQ好友组队，一键开启多人游戏对战。对于不在QQ上的游戏内好友，用户可以通过游戏中心与其同步沟通。他们还可以通过QQ小程序了解最新的游戏事件。展望未来，QQ 的新领导团队将寻求升级服务的技术、运营和内容，更好地服务于年轻用户的社交和娱乐需求。</blockquote></p><p>Our fee-based VAS subscriptions grew 14% year-on-year to 226 million. Video subscriptions increased 12% year-on-year to 125 million, benefitting from adaptation of certain IPs, such as The Land of Warriors, into animated and live action drama series. Our self-commissioned variety shows such as Chuang 2021 and Roast Season 5 attained popularity. Music subscriptions increased 43% year-on-year to 61 million, primarily driven by better content, effective marketing campaigns and an improved retention rate.</p><p><blockquote>我们的收费增值税订阅量同比增长 14%，达到 2.26 亿。视频订阅量同比增长 12% 至 1.25 亿，受益于将某些 IP（如《无双之地》）改编为动画和真人剧集。《创2021》、《烤肉第五季》等自制综艺节目广受欢迎。音乐订阅量同比增长 43%，达到 6100 万，主要得益于更好的内容、有效的营销活动和提高的保留率。</blockquote></p><p>We are merging the Tencent Video and WeiShi teams to upgrade their algorithmic recommendations, bring integrated viewing experiences to users, and enrich short video clips adapted from our long form video library. We have announced leadership changes in TME, aiming to enhance the co-operation and synergies between our digital content services, as well as with our social communities.</p><p><blockquote>我们正在合并腾讯控股视频和微视团队，以升级他们的算法推荐，为用户带来一体化的观看体验，并丰富从我们的长格式视频库改编的短视频片段。我们宣布了TME的领导层变动，旨在加强我们的数字内容服务之间以及与我们的社交社区之间的合作和协同效应。</blockquote></p><p><b>Games </b></p><p><blockquote><b>游戏</b></blockquote></p><p>Our aggregate user engagement and user spending increased year-on-year despite the high base due to stay-at-home impact in the first quarter of 2020. We released Honour of Kings’ biggest-ever update in January to improve its graphics and game experiences, and then launched appealing marketing campaigns with top-tier skins during the Chinese New Year, which drove the game’s DAU and paying users to record highs in February. We reduced the application file size of PUBG Mobile and enhanced our local market operational capabilities, boosting PUBG Mobile’s DAU in EMEA countries. League of Legends benefitted significantly from the release of bigger and better Lunar Revel content across PC and mobile devices, as well as across its core game mode and Teamfight Tactics.</p><p><blockquote>尽管由于2020年第一季度居家影响，基数较高，但我们的用户参与度和用户支出总额同比增长。我们在 1 月份发布了《王者荣耀》有史以来最大的更新，以改善其画面和游戏体验，然后在农历新年期间推出了顶级皮肤的吸引人的营销活动，这使得游戏的 DAU 和付费用户在 2 月份创下了历史新高。我们缩小了 PUBG Mobile 的应用文件大小，增强了本地市场运营能力，提高了 PUBG Mobile 在 EMEA 国家的 DAU。《英雄联盟》从PC和移动设备上发布更大更好的月球狂欢内容以及其核心游戏模式和团队战术中受益匪浅。</blockquote></p><p></p><p>We are also cultivating emerging genres beyond these large audience games. For example, our new titles Komori Life and The Walnut Diary ranked among China’s top ten life simulation mobile games by DAU in April 2021. Our games pipeline covers a wide spectrum of genres, including Action, MOBA and Survival. For China, many of the new games are adapted from popular existing game and literature IPs. Internationally, we expect our substantial prior investments in best-in-class PC, console and mobile studios to begin contributing a range of genre-innovating games in the quarters to come.</p><p><blockquote>除了这些大型受众游戏之外，我们还在培养新兴类型。例如，我们的新作《小森生活》和《核桃日记》在2021年4月被DAU评为中国十大生活模拟手机游戏之一。我们的游戏产品线涵盖了广泛的类型，包括动作、MOBA和生存。对于中国来说，许多新游戏都是根据现有热门游戏和文学IP改编的。在国际上，我们预计我们之前对一流个人电脑、游戏机和移动工作室的大量投资将在未来几个季度开始为一系列类型创新的游戏做出贡献。</blockquote></p><p><b>Online Advertising </b></p><p><blockquote><b>网络广告</b></blockquote></p><p>We enhanced the transaction capabilities of our advertising properties via linkage with Weixin Mini Programs and upgraded marketing solutions for key industries including games, retail and automobile-related verticals, delivering higher sales conversion and ROIs for advertisers. Advertisers’ adoption of Mini Programs as landing pages increased substantially, demonstrating growing recognition of Weixin as a transaction-generating environment. Our mobile advertising network continued to benefit from increased video advertising inventories primarily within games, online reading and tool apps. For the rest of 2021, industry uncertainties include potential regulatory headwinds for K-12 education and potential delays to the release schedule of our video content.</p><p><blockquote>我们通过与微信小程序联动，提升广告物业的交易能力，为游戏、零售、汽车相关垂直行业等重点行业升级营销解决方案，为广告主带来更高的销售转化率和投资回报率。广告商采用小程序作为落地页的数量大幅增加，这表明人们越来越认识到微信是一个产生交易的环境。我们的移动广告网络继续受惠于主要在游戏、在线阅读及工具应用内的视频广告库存增加。在2021年剩余时间里，行业的不确定性包括K-12教育的潜在监管阻力以及我们视频内容发布时间表的潜在延迟。</blockquote></p><p><b>FinTech </b></p><p><blockquote><b>金融科技</b></blockquote></p><p>Our commercial payments volume benefitted from rising adoption of mobile payment in China due to consumption growth and an expanding digital economy. As people travelled less and consumed more during the Chinese New Year holiday, offline payment transactions increased sequentially, particularly in retail and dining services.</p><p><blockquote>我们的商业支付量受惠于中国因消费增长及数字经济不断扩大而日益普及移动支付。由于春节假期期间人们出行减少，消费增加，线下支付交易环比增加，尤其是零售和餐饮服务。</blockquote></p><p>Weixin Pay has been assisting small and medium-sized merchants in China to grow and digitalise their businesses. We are committing significant subsidies, resources and services to small and medium-sized merchants, to further reduce their operating costs and enhance their operational efficiency.</p><p><blockquote>微信支付一直在帮助中国的中小商户发展和数字化业务。我们向中小商户提供大量补贴、资源和服务，以进一步降低他们的营运成本，提高他们的营运效率。</blockquote></p><p><b>Cloud and Other Business Services </b></p><p><blockquote><b>云和其他业务服务</b></blockquote></p><p>Leveraging our strengths in security, communication and CRM solutions, we expanded our PaaS and SaaS businesses during the quarter. To better position ourselves for the opportunities in China’s nascent SaaS market, we have established our SaaS ecosystem program to nurture the growth of SaaS providers and facilitate digitalisation of enterprise clients. We launched our Enterprise App Connector with unified login accounts and data flow across different SaaS products, allowing SaaS providers to develop and deliver their products more efficiently, while facilitating better coordination of multiple SaaS solutions by enterprise clients</p><p><blockquote>利用我们在安全、通信和CRM解决方案方面的优势，我们在本季度扩大了我们的PaaS和SaaS业务。为了更好地把握中国新兴的 SaaS 市场的机遇，我们建立了 SaaS 生态系统计划，以培育 SaaS 提供商的发展，并促进企业客户的数字化。我们推出了具有统一登录帐户和跨不同SaaS产品的数据流的企业应用连接器，使SaaS提供商能够更高效地开发和交付其产品，同时促进企业客户更好地协调多个SaaS解决方案</blockquote></p><p><b>Investments for the Future</b></p><p><blockquote><b>未来投资</b></blockquote></p><p>We believe that we are still in the early stage of the global digital transformation. The advance of technology will present ample opportunities for our Consumer Internet and Industrial Internet activities. Consequently, we are proactively increasing our rate of investment in new opportunities by investing a portion of our incremental profits for 2021, which we believe will deliver high returns in the long run. Incremental investments will include the following areas – business services, games and short-form video content. </p><p><blockquote>我们认为，我们仍处于全球数字化转型的早期阶段。技术的进步将为我们的消费互联网和工业互联网活动提供充足的机会。因此，我们正在通过投资2021年的部分增量利润来主动提高对新机会的投资率，我们相信从长远来看，这将带来高回报。增量投资将包括以下领域——商业服务、游戏和短视频内容。</blockquote></p><p></p><p><ul><li>Business Services: We will make further investments in areas such as headcount and infrastructure to support the rapid growth of our business. We will strengthen our productivity SaaS products and security software as well as partnerships with and investments in SaaS providers and Independent Software Vendors, supporting our clients’ digital needs. Through enhancing our upsell and cross-sell capabilities in key verticals such as healthcare, retail, education and transportation, we will provide smart solutions for enterprises and consumer-facing products for users.</li></ul><ul><li>Games: We are stepping up our investments in game development, and in particular focusing on large-scale and high-production-value games that can appeal to users globally. We are also investing further in new types of games serving more targeted audiences, building up IP franchises and developing them across media, and investing in advanced technologies for next generation game experiences such as cloud games. </li></ul><ul><li>Short-Form Video Content: We are now incubating the content ecosystem for Video Accounts which connect users with real-life content and bridge high-quality content creators with their customers. We will provide production and monetisation tools to content creators, optimise social-driven recommendation, enrich knowledge-based content as well as add servers and bandwidth to support Video Accounts’ solid growth. We are strengthening the synergies between our long-form and short-form video services. Through the merger of Tencent Video and WeiShi, we will empower long-form video leveraging our short-form capabilities. We will escalate self-commissioned production to further expand our IP content library, and provide video clips that can be adapted by our creator network. </li></ul>As a technology company serving a broad base of users and enterprises, we recognise our social responsibility and the opportunities for us to create significant social value through innovations. Consequently, we integrated our Corporate Social Responsibility and charitable activities into a new Sustainable Social Value Organisation. We will invest an initial capital of RMB50 billion, to be funded by our investment gains, in areas including basic science, education innovation, rural revitalisation, carbon neutrality, food/energy/water provision, assisting with public emergencies, technology for senior citizens and public welfare. This upgrade aims to implement our mission of “Tech for Good” and marks a new phase of development for the Company.</p><p><blockquote><ul><li>商业服务：我们将在员工数量和基础设施等领域进行进一步投资，以支持我们业务的快速增长。我们将加强生产力 SaaS 产品和安全软件，以及与 SaaS 提供商和独立软件供应商的合作和投资，支持客户的数字化需求。通过提升我们在医疗、零售、教育、交通等重点垂直领域的追加销售和交叉销售能力，我们将为企业提供智能解决方案，为用户提供面向消费者的产品。</li></ul><ul><li>游戏：我们正在加大对游戏开发的投入，尤其关注能够吸引全球用户的大型高制作价值游戏。我们还进一步投资于服务更多目标受众的新型游戏，建立知识产权特许经营权并跨媒体开发，以及投资云游戏等下一代游戏体验的先进技术。</li></ul><ul><li>短视频内容：我们目前正在孵化视频账户的内容生态系统，将用户与现实生活中的内容联系起来，并将优质内容创作者与其客户联系起来。我们将为内容创作者提供制作和货币化工具，优化社交驱动的推荐，丰富基于知识的内容，并增加服务器和带宽，以支持视频账户的稳步增长。我们正在加强长格式和短格式视频服务之间的协同效应。通过腾讯控股视频与微视的合并，我们将利用我们的短视频能力赋能长视频。我们将升级自我委托制作，以进一步扩大我们的IP内容库，并提供可由我们的创作者网络改编的视频剪辑。</li></ul>作为一家服务于广大用户和企业的科技公司，我们深知我们的社会责任以及通过创新创造重大社会价值的机会。因此，我们将企业社会责任和慈善活动整合为一个新的可持续社会价值组织。我们将在基础科学、教育创新、乡村振兴、碳中和、粮食╱能源╱水供应、突发公共事件救助、老年科技、公益事业等领域投入首期资金人民币500亿元。此次升级旨在实现我们 “科技向善 ”的使命，标志着公司进入了一个新的发展阶段。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"00700":"腾讯控股","TCEHY":"腾讯控股ADR"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199929409","content_text":"Tencent Holdings Ltd announce the unaudited consolidated results of the Group for the three months ended 31 March 2021.Qtrly revenues rmb135,303 million versus rmb108,065 million;Qtrly profit attributable rmb47,767 million versus rmb28,896 million;Qtrly revenues from online advertising increased by 23% to rmb21.8 billion;At march 31, combined mau of Weixin and Wechat 1,241.6 mln vs 1,202.5 mlnBUSINESS REVIEW AND OUTLOOK During the quarter, we achieved notable growth for our business services as well as online advertising revenue streams, while stepping up our investment in areas including business services and enterprise software, high-production-value games, and short-form video. Our listed investment portfolio experienced meaningful value appreciation, while contributing mixed results to our associate income, with certain investees delivering wider associate losses due to their investments in new initiatives such as community group buying activities. Overall, we believe we sustained healthy operational and financial results during a period when the China Internet industry as a whole is undergoing a heavy investment phase. Here are some highlights of our key products and business lines for the quarter:Weixin Weixin Video Accounts continued to gain user and content creator traction as we build the content ecosystem. We have increased our efforts in attracting and incubating content creators by providing customised onboarding services and ongoing operational support. Mini Programs’ ecosystem is thriving with deeper penetration among small and medium-sized businesses. Our low-code development platform enables smaller businesses to develop Mini Programs more cost-effectively. We provided more tools to assist system integrators and the number of active Mini Programs they served more than tripled year-on-year.QQ and Digital Content We are leveraging technology to better integrate social and content consumption experiences at QQ, such as seamless experiences between instant messaging and games. Users can team up with QQ friends to start a multi-player game battle with one click. For in-game friends who are not on QQ, users can communicate with them synchronously via Game Center. They can also stay up-to-date with game events via QQ Mini Programs. Looking forward, QQ’s new leadership team will seek to upgrade the service’s technology, operations and content, and better serve the social and entertainment needs of young users.Our fee-based VAS subscriptions grew 14% year-on-year to 226 million. Video subscriptions increased 12% year-on-year to 125 million, benefitting from adaptation of certain IPs, such as The Land of Warriors, into animated and live action drama series. Our self-commissioned variety shows such as Chuang 2021 and Roast Season 5 attained popularity. Music subscriptions increased 43% year-on-year to 61 million, primarily driven by better content, effective marketing campaigns and an improved retention rate.We are merging the Tencent Video and WeiShi teams to upgrade their algorithmic recommendations, bring integrated viewing experiences to users, and enrich short video clips adapted from our long form video library. We have announced leadership changes in TME, aiming to enhance the co-operation and synergies between our digital content services, as well as with our social communities.Games Our aggregate user engagement and user spending increased year-on-year despite the high base due to stay-at-home impact in the first quarter of 2020. We released Honour of Kings’ biggest-ever update in January to improve its graphics and game experiences, and then launched appealing marketing campaigns with top-tier skins during the Chinese New Year, which drove the game’s DAU and paying users to record highs in February. We reduced the application file size of PUBG Mobile and enhanced our local market operational capabilities, boosting PUBG Mobile’s DAU in EMEA countries. League of Legends benefitted significantly from the release of bigger and better Lunar Revel content across PC and mobile devices, as well as across its core game mode and Teamfight Tactics.We are also cultivating emerging genres beyond these large audience games. For example, our new titles Komori Life and The Walnut Diary ranked among China’s top ten life simulation mobile games by DAU in April 2021. Our games pipeline covers a wide spectrum of genres, including Action, MOBA and Survival. For China, many of the new games are adapted from popular existing game and literature IPs. Internationally, we expect our substantial prior investments in best-in-class PC, console and mobile studios to begin contributing a range of genre-innovating games in the quarters to come.Online Advertising We enhanced the transaction capabilities of our advertising properties via linkage with Weixin Mini Programs and upgraded marketing solutions for key industries including games, retail and automobile-related verticals, delivering higher sales conversion and ROIs for advertisers. Advertisers’ adoption of Mini Programs as landing pages increased substantially, demonstrating growing recognition of Weixin as a transaction-generating environment. Our mobile advertising network continued to benefit from increased video advertising inventories primarily within games, online reading and tool apps. For the rest of 2021, industry uncertainties include potential regulatory headwinds for K-12 education and potential delays to the release schedule of our video content.FinTech Our commercial payments volume benefitted from rising adoption of mobile payment in China due to consumption growth and an expanding digital economy. As people travelled less and consumed more during the Chinese New Year holiday, offline payment transactions increased sequentially, particularly in retail and dining services.Weixin Pay has been assisting small and medium-sized merchants in China to grow and digitalise their businesses. We are committing significant subsidies, resources and services to small and medium-sized merchants, to further reduce their operating costs and enhance their operational efficiency.Cloud and Other Business Services Leveraging our strengths in security, communication and CRM solutions, we expanded our PaaS and SaaS businesses during the quarter. To better position ourselves for the opportunities in China’s nascent SaaS market, we have established our SaaS ecosystem program to nurture the growth of SaaS providers and facilitate digitalisation of enterprise clients. We launched our Enterprise App Connector with unified login accounts and data flow across different SaaS products, allowing SaaS providers to develop and deliver their products more efficiently, while facilitating better coordination of multiple SaaS solutions by enterprise clientsInvestments for the FutureWe believe that we are still in the early stage of the global digital transformation. The advance of technology will present ample opportunities for our Consumer Internet and Industrial Internet activities. Consequently, we are proactively increasing our rate of investment in new opportunities by investing a portion of our incremental profits for 2021, which we believe will deliver high returns in the long run. Incremental investments will include the following areas – business services, games and short-form video content. Business Services: We will make further investments in areas such as headcount and infrastructure to support the rapid growth of our business. We will strengthen our productivity SaaS products and security software as well as partnerships with and investments in SaaS providers and Independent Software Vendors, supporting our clients’ digital needs. Through enhancing our upsell and cross-sell capabilities in key verticals such as healthcare, retail, education and transportation, we will provide smart solutions for enterprises and consumer-facing products for users.Games: We are stepping up our investments in game development, and in particular focusing on large-scale and high-production-value games that can appeal to users globally. We are also investing further in new types of games serving more targeted audiences, building up IP franchises and developing them across media, and investing in advanced technologies for next generation game experiences such as cloud games. Short-Form Video Content: We are now incubating the content ecosystem for Video Accounts which connect users with real-life content and bridge high-quality content creators with their customers. We will provide production and monetisation tools to content creators, optimise social-driven recommendation, enrich knowledge-based content as well as add servers and bandwidth to support Video Accounts’ solid growth. We are strengthening the synergies between our long-form and short-form video services. Through the merger of Tencent Video and WeiShi, we will empower long-form video leveraging our short-form capabilities. We will escalate self-commissioned production to further expand our IP content library, and provide video clips that can be adapted by our creator network. As a technology company serving a broad base of users and enterprises, we recognise our social responsibility and the opportunities for us to create significant social value through innovations. Consequently, we integrated our Corporate Social Responsibility and charitable activities into a new Sustainable Social Value Organisation. We will invest an initial capital of RMB50 billion, to be funded by our investment gains, in areas including basic science, education innovation, rural revitalisation, carbon neutrality, food/energy/water provision, assisting with public emergencies, technology for senior citizens and public welfare. This upgrade aims to implement our mission of “Tech for Good” and marks a new phase of development for the Company.","news_type":1,"symbols_score_info":{"TCEHY":0.9,"00700":0.9}},"isVote":1,"tweetType":1,"viewCount":804,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":25,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/130907770"}
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