Shulou(Shulou.com)11/24 Report--

CTOnews.com, Sept. 20, there are reports that Tencent Holdings is considering spinning off more of its large investment portfolio in an attempt to fund a series of share buybacks and readjust its growth strategy. Tencent responded that there is no plan or timetable to reduce its stake.

Tencent Holdings announced on the Hong Kong Stock Exchange today that it bought back 1.2 million shares on September 20 at a repurchase price of HK $292.4 to HK $296.4, at a total cost of about HK $353 million.

CTOnews.com learned that in August this year, Tencent Holdings released its results for the second quarter of 2022. According to the financial report, the company's second-quarter revenue was 134 billion yuan, down 3% from the same period last year, and net profit was 18.6 billion yuan, down 56% from the same period last year. Under non-international financial reporting standards, net profit was 28.1 billion yuan, down 17% from the same period last year. As of June 30, 2022, Wechat and WeChat had 1.299 billion monthly active users, up 3.8 per cent from a year earlier. As of June 30, 2022, the number of monthly active users of QQ mobile terminals was 569 million, down 3.8 per cent from the same period last year.

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