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

CTOnews.com, April 10 (Xinhua)-- Chinese Internet companies have once again achieved rapid growth in 2022, with profit indicators surpassing those of established giants Tencent and Alibaba, according to the Financial Times.

According to two investors who received the company's report, byte-beating earnings before interest, tax, depreciation and amortisation (EBITDA) reached nearly $25 billion in 2022 (CTOnews.com Note: currently about 171.75 billion yuan), up 79 percent from $14 billion the year before (currently about 96.18 billion yuan). It also means that the byte-beating financial data has surpassed that of established technology leaders Tencent and Alibaba in 2022.

According to statistics, the EBITDA of Tencent and Alibaba in 2022 is 164 billion yuan and 22.5 billion US dollars respectively (CTOnews.com Note: currently about 154.575 billion yuan).

At the same time, investors revealed that byte jump revenue also maintained a year-on-year increase of nearly 30 per cent to $85 billion, indicating that advertisers continue to invest more on short video platforms Douyin and TikTok.

CTOnews.com noted that technology media The Information gave similar figures last week. Byte-beating revenue is said to have risen 30 per cent year-on-year in 2022 to "above $80 billion". Byte jump revenue in 2021 is close to $60 billion.

Against a backdrop of rising profits and sharp adjustments among its peers, byte-beating valuations have also outweighed Alibaba, but Tencent, which has doubled its share price in the past six months, is still a long way off.

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