Cover reporter Ouyang Hongyu
On the evening of August 18, Tencent Group released its 2022 Q2 performance report. According to the financial report, Tencent achieved revenue of 134 billion yuan in the second quarter of this year, a year -on -year decrease of 3%, the first year -on -year decline in history; under non -international financial reporting standards, the net profit after adjustment was 28.1 billion yuan, a year -on -year decrease of 17%, compared with the previous two, which was the previous two, which was the previous two. The quarter narrowed. Wang Dongwei, director of Zhongtai Capital, believes that the decline in Tencent’s profits is the result of a combination of internal and external factors.
According to Tencent’s financial report, value-added service business and games, financial technology and corporate services, and advertising are the main business components. At the same time, Tencent Music Entertainment and Reading Group, which have been independently listed, constitute the music and film and television business of Tencent Group. In Wang Dongwei’s view, all of Tencent’s business lines have encountered bottlenecks in business development, mainly due to externalities.
Taking the advertising business as an example, Wang Dongwei pointed out that the sharp reduction of Tencent’s advertising business, on the one hand, is a decrease in the willingness of enterprises to advertise; Enterprises, “As far as advertisers in the field of consumer goods are concerned, live streaming is more conducive to the rapid return of funds.”
In fact, in order to drive profit growth, Tencent is also looking for various new business drivers, such as Douyin and Kuaishou, or will insert advertisements into video accounts. In this regard, Wang Dongwei believes that whether the video account or the information flow advertisement grafted into it, the success in the future mainly depends on the development status of the WeChat ecosystem. Even if there is a gap with Douyin and Kuaishou at this stage, if you can get enough users from WeChat to work hard, you will gain a certain market share.
Just before the financial report was released, rumors that Tencent reduced its holdings in Meituan also attracted attention. Tencent executives also responded on the earnings call that news reports about the sale of Meituan shares were incorrect. Earlier media reports said that Tencent plans to reduce its shareholding in Meituan, which is worth about 165 billion yuan, causing many listed companies invested by Meituan and Tencent to plummet. In fact, in the recent time, Tencent has been in the secondary market to reduce its holdings of the investing companies with little relationship with the main business, including JD.com, New Oriental Online, Backgammon, Weibagang, and other listed companies.
In this regard, Wang Dongwei believes that Tencent spent about 4 billion US dollars in investing in Meituan at the beginning. Today, Tencent’s shareholding in Meituan has a market value of more than 22 billion US dollars. “However, from the perspective of long -term development, the strategic investment methods that have used to expand their own borders and consolidate leading positions in the past will gradually be replaced, focusing on cutting -edge technologies such as hard technology and chips will be more valuable.”Return to Sohu, see more
Disclaimer: The opinions of this article only represent the author himself, Sohu is an information publishing platform, and Sohu only provides information storage space services.