SHENZHEN, China, Aug. 17, 2026 /PRNewswire/ -- Tencent (0700.HK) published its Carbon Neutrality Mid-Term Report and launched an accompanying interactive microsite, sharing its progress to date and pathway toward achieving carbon neutrality across its own operations and supply chain by 2030.

The report comes as the rapid growth of artificial intelligence is creating a defining energy challenge for the technology sector. AI workloads are raising rack power demand by up to tenfold, placing new pressure on electricity supply, cooling and infrastructure. At the same time, AI is emerging as a powerful tool for improving efficiency, integrating renewable energy and accelerating low-carbon innovation beyond the technology sector.

The report showcases Tencent's response to the AI-energy challenge: improving the efficiency of computing infrastructure, aligning electricity demand more closely with renewable energy availability, and applying AI and digital technologies to support decarbonization beyond its own operations, while tracking progress toward its 2030 carbon neutrality commitments.

As Tencent Chairman and CEO Ma Huateng writes in the report, "We are applying our digital and AI capabilities to cut emissions within our own infrastructure – and we believe AI holds far greater potential still: to accelerate low-carbon innovation, lift efficiency, and support broader environmental transformation in industries beyond our own."

Redesigning infrastructure for the AI era

One example is T-AIDC, Tencent's next-generation data center architecture for the AI era. AI workloads have increased rack power demand from 6–8 kW to 30–100 kW or more, placing new requirements on power delivery, cooling and system design. T-AIDC addresses these demands through an integrated architecture designed for high-density computing and delivers power-supply efficiency of up to 98%.

Applying AI and innovation beyond our own operations

Beyond its own infrastructure, Tencent is exploring how AI and digital technologies can support emissions reductions across a range of sectors.

In steel production, AI-driven scheduling and digital twin technologies can help plants become more flexible in when and how they use energy, reducing emissions, lowering costs and supporting grid stability. Tencent is also working with partners to better align data center workloads with renewable energy supply through AI-powered scheduling, helping integrate more variable renewable electricity into energy-intensive digital infrastructure.

Tencent is also helping climate technologies move from research to real-world deployment through CarbonX Program, supporting innovation in areas such as carbon removal, carbon utilization and long-duration energy storage. This work is complemented by TanLIVE, Tencent's climate intelligence platform, which helps connect governments, investors and climate-tech stakeholders while improving access to climate solutions, data and investment opportunities.

Delivering progress toward carbon neutrality

Alongside these broader efforts, the report demonstrates Tencent's continued focus on reducing emissions at source through energy efficiency, renewable electricity procurement and low-carbon infrastructure, guided by a carbon-mitigation hierarchy that prioritizes avoiding, reducing and replacing emissions.

That approach is translating into measurable progress. Renewable electricity consumption increased from 22.0% in 2024 to 48.5% in 2025, while owned data centers achieved an 82.9% renewable electricity share. Since announcing its carbon neutrality commitment, Tencent has procured more than 6.5 billion kWh of green electricity.

Sharing progress to advance the conversation

By sharing both its progress and the work behind it, Tencent aims to contribute to a broader conversation about how the technology industry can manage the energy demands of AI while using digital innovation to support the transition to a lower-carbon economy.

Explore the Carbon Neutrality Mid-Term Report and interactive microsite at https://www.tencent.com/climate/

For media queries, please contact: gc@tencent.com

[End]

About Tencent

Tencent is a global technology and entertainment company focused on creating connections and experiences that matter. Founded in 1998, Tencent is driven by its mission to create "Value for Users" and apply "Tech for Good."

Tencent's communication and social services connect more than one billion people around the world, helping them to keep in touch with friends and family, access transportation, pay for daily necessities, and even be entertained. Tencent also develops and publishes some of the world's most popular video games and other high-quality digital content, delivering rich and immersive interactive entertainment experiences. Tencent also offers a range of services such as cloud computing and other enterprise services to support our clients' digital transformation and business growth. Headquartered in Shenzhen, Tencent has been listed on the Main Board of the Stock Exchange of Hong Kong since June 2004.

HONG KONG, Aug. 12, 2026 /PRNewswire/ -- Tencent Holdings Limited (HKEX: 00700 (HKD Counter) and 80700 (RMB Counter), "Tencent" or "the Company"), a world-leading Internet and technology company in China, today announced the unaudited consolidated results for the quarter ended 30 June 2026 ("2Q2026").

Mr. Ma Huateng, Chairman and CEO of Tencent, said, "As we entered into the third quarter of the year, we are making substantial progress towards building a new, AI-empowered Tencent in terms of intelligence, applications, and infrastructure. At the intelligence level, Hy3's production version provides users a widely used model with strong cost-performance metrics, and serves as a stepping-stone toward the Hy family of models attaining state-of-the-art capabilities in the future. At the application level, our WorkBuddy AI office productivity service and CodeBuddy AI coding tool are achieving breakout user growth and are the clear leaders in their fields in China today^[1]. At the infrastructure level, we substantially stepped up our procurement of compute, which will enable us to convert usage of our applications and models into revenue going forward. At the same time, we continue to enhance our existing services, with sustained marketing services revenue growth, several successful recently released games, and rapidly increasing video views on Weixin Video Accounts."

2Q2026 Financial Highlights

Revenues: +11% YoY, gross profit: +13% YoY, non-IFRS operating profit: +9% YoY

• Total revenues were RMB204.8 billion, up 11% over the second quarter of 2025 ("YoY").
• Gross profit was RMB118.4 billion, up 13% YoY.
• On a non-IFRS basis, which is intended to reflect core earnings by excluding certain one-time and/or non-cash items:
  • Operating profit was RMB75.6 billion, up 9% YoY. Operating margin decreased to 37% from 38% last year.
  • Operating profit excluding New AI Products^[2] was RMB86.1 billion, increased by 19% YoY. Operating margin excluding new AI products contributions increased to 42% from 39% last year.
  • Net profit was RMB 70.6 billion, up 9% YoY.
  • Net profit attributable to equity holders of the Company was RMB68.4 billion, up 9% YoY.
  • Basic earnings per share were RMB7.581. Diluted earnings per share were RMB7.433.
• On an IFRS basis:
  • Operating profit was RMB67.3 billion, up 12% YoY. Operating margin was stable at 33%.
  • Net profit was RMB58.0 billion, up 3% YoY.
  • Net profit attributable to equity holders of the Company was RMB56.0 billion, up 0.7% YoY.
  • Basic earnings per share were RMB6.207. Diluted earnings per share were RMB6.104.
• Capital expenditure was RMB52.8 billion, up 176% YoY.
• Total cash was RMB511.2 billion, up 9% YoY. Net cash position totalled RMB58.2 billion, down 22% YoY.
• We recorded negative free cash flow of RMB13.8 billion for 2Q2026, as net cash generated from operating activities of RMB52.7 billion was more than offset by capital expenditure payments of RMB59.3 billion, media content payments of RMB5.0 billion and lease liability payments of RMB2.2 billion. Included in our operating cash flow were large AI-related prepayments to provide infrastructure to support our Hy model enhancements, WorkBuddy and CodeBuddy inference needs, Weixin AI initiatives, and development of AI capabilities across our products and services, as well as to meet growing external demand for our cloud services. Excluding the prepayments for compute procurement, our free cash flow would have been RMB37.6 billion.
• The fair value of our shareholdings^[3] inlisted investee companies (excluding subsidiaries) totalled RMB487.2 billion as at 30 June 2026, compared with RMB547.1 billion as at 31 March 2026. The carrying book value of our shareholdings inunlisted investee companies (excluding subsidiaries) was RMB387.9 billion as at 30 June 2026, compared with RMB365.1 billion as at 31 March 2026.
• During 2Q2026, the Company repurchased approximately 37.4 million shares on the Hong Kong Stock Exchange for an aggregate consideration of approximately HKD16.9 billion.

2Q2026 Management Discussion and Analysis

Revenues from VAS increased by 8% year-on-year to RMB98.4 billion for 2Q2026. Domestic Games revenues were RMB47.3 billion, up 17% year-on-year, driven by growth from most of our major games, with notable contributions from Delta Force, VALORANT PC and MOBILE, and Roco Kingdom: World. International Games revenues were RMB18.6 billion, down 0.8% year-on-year due to foreign currency movements, or up 4% year-on-year in constant currency terms, as higher revenues from Wuthering Waves and VALORANT PC were offset by lower revenues from certain Supercell games. Social Networks revenues increased by 0.8% year-on-year to RMB32.5 billion.

Revenues from Marketing Services were RMB43.6 billion for 2Q2026, up 22% year-on-year, supported by enhancements to our AI-driven ad recommendation model (which determines the ad shown to each user for each impression), upgrades to our automated campaign management solution AIM+ (which helps advertisers purchase performant impressions), and integration of closed-loop marketing capabilities within the Weixin ecosystem (which facilitates Weixin-integrated services, such as Mini Games and Mini Shops, to advertise more effectively on Tencent-managed ad properties). Most major industry categories increased marketing spending on our platforms during the quarter.

Revenues from FinTech and Business Services rose by 9% year-on-year to RMB60.3 billion for 2Q2026. FinTech Services revenue growth was mainly due to higher revenues from commercial payment, wealth management and consumer loan services. Business Services revenue growth was primarily driven by increased revenues from our cloud services, underpinned by greater demand for AI-related services, ongoing international expansion, and a more favourable pricing environment.

Operating Metrics

Business Review and Outlook 

• We released the full Hy3 production version in July 2026, which delivered a substantial step-up in performance versus the Hy3 preview version, and significantly outperforms most similar-sized models. Since its launch, Hy3 has consistently ranked among the top 3 models globally in terms of token consumption on OpenRouter^[5].
• WorkBuddy is achieving rapid user growth and healthy user retention rates, with high user willingness to pay for tokens via subscriptions and top-ups. WorkBuddy's market leadership is underpinned by its robust harness engineering, wide range of model availability, and industry-leading Skills library.
• In recent weeks, we have begun a small-scale prototype test for Xiaowei, the agentic AI inside Weixin. Xiaowei is powered by a customised model, WeLM, built for user privacy, Weixin-specific use cases and inference efficiency.
• Video Accounts' total time spent grew more than 20% year-on-year in 2Q2026, benefitting from enriched content for younger users, upgraded interactive features and a new multi-variable content ranking system.
• Our domestic evergreen games^[6], Delta Force and VALORANT PC, achieved lifetime highs in average DAU in 2Q2026. Our new game, Roco Kingdom: World, ranked first by average DAU^[7] and by gross receipts^[8] among all new mobile titles released in China year-to-date.
• Miniclip attained breakout success in international markets as Arrows – Puzzle Escape became the most downloaded mobile game globally in 2Q2026^[9], generating robust in-app advertising revenues.
• We upgraded our automated campaign management solution, AIM+, with AI-powered end-to-end execution capabilities for mini shop and mini drama advertisers.

For other detailed disclosure, please refer to our website https://www.tencent.com/en-us/investors.html, or follow us via Weixin Official Account (Weixin ID: TencentGlobal).

About Tencent

Tencent uses technology to enrich the lives of Internet users.

Our communication and social services, Weixin and QQ, connect users with each other and with digital content and services, both online and offline, making their lives more convenient. Our targeted marketing services helps advertisers reach out to hundreds of millions of consumers in China. Our FinTech and business services support partners' business growth and assist their digital upgrade.

Tencent invests heavily in talent and technological innovation, actively promoting the development of the Internet industry. Tencent was founded in Shenzhen, China, in 1998. Tencent has been listed on the Main Board of the Stock Exchange of Hong Kong since 2004.

Investor contact: IR@tencent.com
Media contact: GC@tencent.com

Non-IFRS Financial Measures

To supplement the consolidated results of the Group ("the Company and its subsidiaries") prepared in accordance with IFRS, certain additional non-IFRS financial measures (in terms of operating profit, operating margin, profit for the period, profit attributable to equity holders of the Company, basic EPS and diluted EPS) have been presented in this press release. These unaudited non-IFRS financial measures should be considered in addition to, not as a substitute for, measures of the Group's financial performance prepared in accordance with IFRS. In addition, these non-IFRS financial measures may be defined differently from similar terms used by other companies.

The Company's management believes that the non-IFRS financial measures provide investors with useful supplementary information to assess the performance of the Group's core operations by excluding certain non-cash items and certain impact of investment-related transactions. In addition, non-IFRS adjustments include relevant non-IFRS adjustments for the Group's major associates based on available published financials of the relevant major associates, or estimates made by the Company's management based on available information, certain expectations, assumptions and premises.

Forward-Looking Statements

This press release contains forward-looking statements relating to the business outlook, estimates of financial performance, forecast business plans and growth strategies of the Group. These forward-looking statements are based on information currently available to the Group and are stated herein on the basis of the outlook at the time of this press release. They are based on certain expectations, assumptions and premises, some of which are subjective or beyond our control. These forward-looking statements may prove to be incorrect and may not be realised in the future. Underlying these forward-looking statements are a lot of risks and uncertainties. In light of the risks and uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as representations by the Board or the Company that the plans and objectives will be achieved, and investors should not place undue reliance on such statements. The Board and the Company assume no obligation to correct or update the forward-looking statements contained in this announcement.

SHENZHEN, China, July 25, 2026 /PRNewswire/ -- Tencent (00700.HK) today announced the launch of Digital Jingdezhen: Porcelain Craft Adventure, an AI-powered cultural heritage game that enables users to explore Jingdezhen's porcelain-making traditions and experience traditional craft techniques through interactive play. The launch coincides with the inscription of the Jingdezhen Handicraft Porcelain Industry Sites on the United Nations Educational, Scientific and Cultural Organization (UNESCO) World Heritage List.

Digital Jingdezhen is part of a broader cultural innovation initiative that applies Tencent's AI and game technologies. Guided by Tencent's vision of "Tech for Good", the initiative leverages digital preservation to keep Jingdezhen's thousand-year-old porcelain culture alive and relevant today, creating a living heritage with sustainable value and broad public engagement, and building a model that could be carried to heritage sites around the world.

Digital Preservation: Restoring and Unlocking Heritage with AI

Jingdezhen has a thousand years of living heritage; centuries of tradition are still active in its kilns today. To preserve this legacy, a cornerstone of the project was the Jingdezhen Porcelain Cultural Heritage Multimodal AI Dataset.

Over decades, historical records, heritage information, and craft specifications have accumulated into a massive volume of data. Tencent applied Optical Character Recognition (OCR), Natural Language Processing (NLP), and knowledge graph technologies to transform these dispersed materials into structured digital resources that can be analyzed, extracted, verified, and traced back to their original sources.

The dataset contains more than 30,000 documentary records, over 5,000 ceramic gene specimens, and data on nearly 1,000 representative ceramic artifacts in collections worldwide. It provides a digital foundation for cultural research, exhibition development, public interpretation and AI-powered heritage applications.

Building on this foundation, Tencent has developed a range of industry- and public-facing applications, including the Jingdezhen Ancient Ceramics Gene Database, the World Ceramics Interactive Map, and the Digital Jingdezhen AI Companion, providing researchers, heritage professionals, and the public with innovative AI-powered tools to explore and understand porcelain heritage.

Digital Activation: Bringing Jingdezhen's Porcelain Heritage to Life Through AI and Games

To bring the public closer to Jingdezhen and its porcelain-making traditions, Digital Jingdezhen: Porcelain Craft Adventure utilizes AI-assisted Procedural Content Generation (PCG) to create the first large-scale digital recreation of the city's five major porcelain heritage sites and historical production scenes. By rapidly mapping out town layouts and automatically generating architectural structures, decorative elements, and pedestrians, the technology brings Jingdezhen's historic townscape back to life in the digital world.

The game also features high-quality AI digital humans built on large language models and the Jingdezhen Porcelain Cultural Heritage Multimodal AI Dataset. Through AI voice-driven facial expressions and Tencent Games' proprietary animation technology, it creates warm, human-centered interactive experiences that make historical knowledge tangible and relatable. At the same time, AI-powered 3D generation allows users to quickly transform an uploaded image into a 3D porcelain form, lowering the barrier to participation and enabling anyone to turn creative inspiration into tangible ceramic forms in the digital space.

Continuing Heritage: Mobilizing the Community

Ensuring the longevity of Jingdezhen's legacy requires active public participation. Tencent developed the Digital Heritage Guardian (Jingdezhen), a volunteer program built within the Weixin ecosystem. The program enables the public to support the upkeep and stewardship of physical heritage sites, creating a practical channel for community involvement in heritage protection.

"Our work in Jingdezhen is a testament to how 'AI for Good' can breathe new life into ancient traditions," said Zhan Shu, Head of Digital Culture Lab, Tencent. "Working alongside dedicated heritage experts, we have contributed our capabilities in AI and digital technologies to unlock decades of dormant archives for this incredible new UNESCO site. We are proud to help bridge the gap between the thousand-year porcelain heritage and the digital era, creating new ways for the global public to connect with Jingdezhen's living history, and a model for heritage sites worldwide."

For media queries, please contact: gc@tencent.com

About Tencent

Tencent is a global technology and entertainment company focused on creating connections and experiences that matter. Founded in 1998, Tencent is driven by its mission to create "Value for Users" and apply "Tech for Good."

Tencent's communication and social services connect more than one billion people around the world, helping them to keep in touch with friends and family, access transportation, pay for daily necessities, and even be entertained. Tencent also develops and publishes some of the world's most popular video games and other high-quality digital content, delivering rich and immersive interactive entertainment experiences. Tencent also offers a range of services such as cloud computing and other enterprise services to support our clients' digital transformation and business growth. Headquartered in Shenzhen, Tencent has been listed on the Main Board of the Stock Exchange of Hong Kong since June 2004.

Tencent is also outlining progress in reducing emissions across its own operations through the use of renewable energy, efficient design and lower‑carbon infrastructure. These efforts are complemented by initiatives that support wider decarbonization, enabled by Tencent's technologies and collaborative ecosystem.

Together, they reflect Tencent's approach to climate action: advancing breakthrough technologies and making measurable progress in reducing emissions for a more sustainable future on a resilient, shared foundation.

CarbonX 2.0 Winners

CarbonX 2.0 received 660 applications from 54 countries and regions across six continents. A cohort of 50 finalists was identified, before 16 winners were selected to receive the critical funding and resources needed to scale their solutions from pilot to real-world deployment.

Ten of the 16 teams span four critical technology areas:

1. Carbon Dioxide Removal (CDR) – technologies that remove CO₂ directly from the atmosphere, with pilots in Kenya
2. CCUS for Steel – solutions to reduce emissions in one of the hardest‑to‑abate industrial sectors, with pilots in Serbia and China
3. Carbon Utilization (CCU / CarbonXmade) – converting captured CO₂ into useful materials and products
4. Long‑Duration Energy Storage (LDES) – enabling stable, 24/7 renewable energy systems, with pilots in the Maldives

Six additional teams were selected to receive tailored support, including Measurement, Reporting and Verification (MRV), carbon-credit procurement commitments, and green-premium subsidy mechanisms.

From utilizing geothermal energy to capture CO₂, to creating a water-based organic flow battery for enhanced energy security, and creating sustainable plastics from captured CO₂ emissions, the 16 winning teams exemplify the next wave of climate innovation. With winners from the US, UK, EU, China, Kenya and further afield, CarbonX 2.0 provides the global support, resources and pilot sites that these technologies need to progress and scale.

"The climate challenge demands bold innovation and accelerated action," said Dr. Hao Xu, Vice President of Tencent's Sustainable Social Value and Head of Climate Innovation. "CarbonX 2.0 reflects Tencent's role as a catalyst, connector, and mobilizer within the climate ecosystem. By backing these frontier technologies with substantial funding and access to our extensive network, we are helping unlock the next generation of climate innovation and supporting these solutions as they scale towards commercial viability and global impact."

Progress Towards Tencent's Climate Goals

Alongside driving global climate innovation through CarbonX 2.0, Tencent has marked a key checkpoint in its decarbonization journey with mid-term metrics demonstrating progress against the 2030 goals. As AI continues to reshape global energy demand, Tencent is reducing emissions and scaling renewable energy to meet climate targets, including achieving carbon neutrality across its operations and supply chains and reaching 100% renewable energy by 2030.

Key achievements toward these goals include:

• Scope 1 and 2 emissions were reduced by 2,399,814.9 tCO₂e, and Scope 3 emissions were reduced by 263,962.5 tCO₂e in 2025, while the PUE of owned data centers improved from 1.257 to 1.246 year over year.
• Tencent's next‑generation T‑AIDC data center architecture improves power efficiency to over 98%, enabling high‑performance AI workloads while reducing energy use
• On‑site renewable energy capacity at owned data centers expanded to 63.8 MW
• Renewable energy use at self-owned Internet Data Centers increased significantly, rising from 49.8% in 2024 to 83% in 2025, demonstrating strong progress toward the 2030 target.
• Beyond Tencent's own operations, the share of green electricity consumption in leased data centers increased from 3.8% in 2024 to 21.4% in 2025
• Tencent's computing power synergy model enables data centers to match workloads with renewable supply, reducing carbon emissions, supporting grid stability, while cutting costs by over 40%
• Tencent's virtual power plant for steel uses digital twins and AI optimization to shift energy use, reduce emissions and improve grid stability

For media queries, please contact: gc@tencent.com

About CarbonX
The CarbonX Program was initiated in 2023 by Tencent, together with industry, investment, and ecosystem partners. It is dedicated to supporting emerging low-carbon technologies with substantial catalytic funding and resources. Now in its second phase, CarbonX 2.0 focuses on cutting-edge CCUS, carbon removal, and long-duration energy storage technologies, and solicits proposals from early-stage teams around the world. It aims to build first-of-its-kind pilot projects in real industrial settings, incubate high-potential startups, and support capacity-building projects. Visit the CarbonX website for further information on the program.

About Tencent
Tencent is a global technology and entertainment company focused on creating connections and experiences that matter. Founded in 1998, Tencent is driven by its mission to create "Value for Users" and apply "Tech for Good".

Tencent's communication and social services connect more than one billion people around the world, helping them to keep in touch with friends and family, access transportation, pay for daily necessities, and even be entertained. Tencent also develops and publishes some of the world's most popular video games and other high-quality digital content, delivering rich and immersive interactive entertainment experiences. Tencent also offers a range of services such as cloud computing and other enterprise services to support our clients' digital transformation and business growth. Headquartered in Shenzhen, Tencent has been listed on the Main Board of the Stock Exchange of Hong Kong since June 2004.

Utilising AI to Grow Existing Core Businesses

HONG KONG, May 13, 2026 /PRNewswire/ -- Tencent Holdings Limited (HKEX: 00700 (HKD Counter) and 80700 (RMB Counter), "Tencent" or "the Company"), a world-leading Internet and technology company in China, today announced the unaudited consolidated results for the quarter ended 31 March 2026 ("1Q2026").

Mr. Ma Huateng, Chairman and CEO of Tencent, said, "We started 2026 by making significant initial progress on our new AI products, as well as continuing to utilise AI to grow our existing core businesses. The Hy3 preview model, built by our revamped team of AI researchers on re-architected AI infrastructure, is a leader in its parameter size class, delivering practical utility and cost efficiency, and has been top ranked in OpenRouter token measurements since April 28. Our productivity AI agent solutions have attained early traction, and we believe that our WorkBuddy is currently the most widely used productivity AI agent service in China. Our core businesses continued to grow their engagement, revenue and profit, providing the cash flow to fund our AI investments, as well as use cases for future AI deployment."

1Q2026 Financial Highlights

Revenues: +9% YoY, gross profit: +11% YoY, non-IFRS operating profit: +9% YoY

• Total revenues were RMB196.5 billion, up 9% over the first quarter of 2025 ("YoY").
• Gross profit was RMB111.3 billion, up 11% YoY.
• On a non-IFRS basis, which is intended to reflect core earnings by excluding certain one-time and/or non-cash items:
  • Operating profit was RMB75.6 billion, up 9% YoY. Operating margin was largely stable at 38.5%.
  • Operating profit excluding new AI products^[1] was RMB 84.4 billion, increased by 17% YoY. Operating margin excluding new AI products increased to 43.0% from 39.9% last year.
  • Net profit was RMB 69.8 billion, up 11% YoY.
  • Net profit attributable to equity holders of the Company was RMB67.9 billion, up 11% YoY.
  • Basic earnings per share were RMB7.517. Diluted earnings per share were RMB7.364.
• On an IFRS basis:
  • Operating profit was RMB67.4 billion, up 17% YoY. Operating margin increased to 34.3% from 32.0% last year.
  • Net profit was RMB59.4 billion, up 19% YoY.
  • Net profit attributable to equity holders of the Company was RMB58.1 billion, up 21% YoY.
  • Basic earnings per share were RMB6.431. Diluted earnings per share were RMB6.302.

• Capital expenditure was RMB31.9 billion, up 16% YoY.
• Total cash was RMB533.7 billion, up 12%. Free cash flow was RMB56.7 billion, up 20% YoY. Net cash position totalled RMB146.9 billion, up 63%.
• The fair value of our shareholdings^[2] inlisted investee companies (excluding subsidiaries) totalled RMB547.1 billion as at 31 March 2026, compared with RMB672.7 billion as at 31 December 2025. The carrying book value of our shareholdings inunlisted investee companies (excluding subsidiaries) was RMB365.1 billion as at 31 March 2026, compared with RMB363.1 billion as at 31 December 2025.
• During 1Q2026, the Company repurchased approximately 12.7 million shares on the Hong Kong Stock Exchange for an aggregate consideration of approximately HKD7.6 billion.

1Q2026 Management Discussion and Analysis

Revenues from VAS increased by 4% year-on-year to RMB96.1 billion for 1Q2026. Domestic Games revenues were RMB45.4 billion, up 6% YoY, with revenue growth lagging Domestic Games gross receipts growth, as the later timing of the Spring Festival period in 2026 versus 2025 shifted a portion of revenue recognition out of the current quarter. Domestic Games gross receipts grew at a teens percentage rate YoY, driven by existing evergreen games including Honour of Kings and Peacekeeper Elite, as well as more recent game releases including Delta Force, which has recently qualified for the definition of an evergreen game, and VALORANT Mobile. International Games revenues were RMB18.8 billion, up 13% YoY (14% on a constant-currency basis), primarily driven by higher revenues from Clash Royale, Wuthering Waves and VALORANT PC. Social Networks revenues decreased by 2% YoY to RMB31.9 billion, as the later timing of the Spring Festival period resulted in less revenue recognition for domestic app-based game item sales during 1Q2026 versus 1Q2025.

Revenues from Marketing Services were RMB38.2 billion for 1Q2026, up 20% YoY, improving from 17% YoY growth in 4Q2025. We upgraded our AI-driven ad recommendation model and expanded closed-loop marketing capabilities within the Weixin ecosystem, which improved ad performance and pricing. Advertising spending grew across most major industry categories during the quarter, with notable growth from Internet services, eCommerce and games categories.

Revenues from FinTech and Business Services increased by 9% YoY to RMB59.9 billion for 1Q2026. FinTech Services revenue growth was mainly due to higher revenues from commercial payment and wealth management services. Business Services revenues rose by 20% YoY, with growth led by increased cloud services revenues supported by higher demand across domestic and international markets, including demand for AI-related services, and a more favorable pricing environment, as well as higher eCommerce technology service fees arising from growth in Mini Shops GMV.

Operating Metrics

1Q2026 Business Review and Outlook

• Several of our evergreen games^[4] achieved life-time highs in quarterly gross receipts, including Honour of Kings, Peacekeeper Elite and Delta Force, while new game Roco Kingdom: World achieved substantial popularity.
• Our automated campaign management solution AIM+ powered approximately 30% of our total marketing services spending from advertisers, gaining notable traction among mini game, mini drama and mini shop advertisers.
• We scaled up the number of parameters and enhanced the algorithms for Video Accounts' content recommendation model, enabling delivery of more relevant content to users. Total time spent on Video Accounts grew over 20% year-on-year.
• Mini Shops sustained a rapid year-on-year growth rate in GMV as we offered incentives for brand merchants and introduced coupon sharing features for frequent buyers.
• Commercial payment volume grew at a faster year-on-year rate than 4Q2025, benefitting from ongoing increase in number of transactions and higher value per transaction in categories such as retail and dining services.
• Tencent Cloud's productivity AI agent solutions achieved rapid growth and healthy retention rates. Among which, WorkBuddy was the most popular productivity AI agent service in China, measured by DAU.
• In April, we launched the Hy3 preview large language model, building upon a revamped AI infrastructure. We believe the Hy3 preview model is currently best in class among similar-size models in terms of reasoning, agentic and coding capabilities, and has become the most used model on OpenRouter since April 28, measured by token usage.

For other detailed disclosure, please refer to our website https://www.tencent.com/en-us/investors.html, or follow us via Weixin Official Account (Weixin ID: TencentGlobal)

About Tencent

Tencent uses technology to enrich the lives of Internet users.

Our communication and social services, Weixin and QQ, connect users with each other and with digital content and services, both online and offline, making their lives more convenient. Our targeted marketing services helps advertisers reach out to hundreds of millions of consumers in China. Our FinTech and business services support partners' business growth and assist their digital upgrade.

Tencent invests heavily in talent and technological innovation, actively promoting the development of the Internet industry. Tencent was founded in Shenzhen, China, in 1998. Tencent has been listed on the Main Board of the Stock Exchange of Hong Kong since 2004.

Investor contact: IR@tencent.com
Media contact: GC@tencent.com

Non-IFRS Financial Measures

To supplement the consolidated results of the Group ("the Company and its subsidiaries") prepared in accordance with IFRS, certain additional non-IFRS financial measures (in terms of operating profit, operating margin, profit for the period, profit attributable to equity holders of the Company, basic EPS and diluted EPS) have been presented in this press release. These unaudited non-IFRS financial measures should be considered in addition to, not as a substitute for, measures of the Group's financial performance prepared in accordance with IFRS. In addition, these non-IFRS financial measures may be defined differently from similar terms used by other companies.

The Company's management believes that the non-IFRS financial measures provide investors with useful supplementary information to assess the performance of the Group's core operations by excluding certain non-cash items and certain impact of investment-related transactions. In addition, non-IFRS adjustments include relevant non-IFRS adjustments for the Group's major associates based on available published financials of the relevant major associates, or estimates made by the Company's management based on available information, certain expectations, assumptions and premises.

Forward-Looking Statements

This press release contains forward-looking statements relating to the business outlook, estimates of financial performance, forecast business plans and growth strategies of the Group. These forward-looking statements are based on information currently available to the Group and are stated herein on the basis of the outlook at the time of this press release. They are based on certain expectations, assumptions and premises, some of which are subjective or beyond our control. These forward-looking statements may prove to be incorrect and may not be realised in the future. Underlying these forward-looking statements are a lot of risks and uncertainties. In light of the risks and uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as representations by the Board or the Company that the plans and objectives will be achieved, and investors should not place undue reliance on such statements.

CONDENSED CONSOLIDATED INCOME STATEMENT 

RMB in millions, unless specified

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 

RMB in millions, unless specified

OTHER FINANCIAL INFORMATION 

RMB in millions, unless specified

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

RMB in millions, unless specified

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (continued)

RMB in millions, unless specified

RECONCILIATIONS OF THE GROUP'S NON-IFRS FINANCIAL MEASURES TO THE NEAREST MEASURES PREPARED IN ACCORDANCE WITH IFRS

Scalable, User‑driven and AI‑powered Enforcement
Transforms IP defense from Reactive Takedowns to Sustained Proactive Prevention.

LONDON, May 4, 2026 /PRNewswire/ -- Tencent today released its 2025 Weixin Brand Protection Report, marking a decade of progress in intellectual property (IP) protection on Weixin. The report shows how Weixin's Brand Protection Platform (BPP), through close collaboration with brands, community participation, and AI-driven detection, has helped shift enforcement from reactive takedowns to sustained proactive prevention.

Key Highlights in 2025

A Decade of Global Partnership, Trust, and Progress

For ten years, Weixin has supported brand integrity and advanced IP protection by embedding enforcement directly within its platform to rapidly detect and stop infringement, particularly in fast-growing areas like short-form video and livestream commerce.

"Weixin has built a truly collaborative IP‑protection ecosystem that unites authorities, brands, and users to deliver the next generation of enforcement," said Danny Marti, Head of Global Public Policy at Tencent. "By leveraging AI, real‑time user reports, advanced analytics, and close partnership with brands and regulators, we're creating a trusted environment that lets global brands confidently engage with consumers."

Weixin's approach connects online detection with offline enforcement, translating digital intelligence into real-world action against counterfeiters. In 2025, the BPP helped authorities pursue 37 cases involving more than 300 suspects and totaling over $430 million in value.

Since 2021 the BPP has grown by more than 50 %. Today it hosts more than 700 brands across 30+ industries and 20+ countries and regions. In the past year, the BPP welcomed 62 new members including several from newly added categories, most notably publishing, which saw the addition of 14 publishers since October 2025.

Additionally, the Weixin IP Protection Alliance was launched in 2025 to co‑develop tools, share intelligence, and deepen brand partnerships. This ecosystem approach, combining technology, users, and brand collaboration, positions Weixin as a model for protecting IP while enabling growth in global and digital markets.

"At PUMA, protecting intellectual property is an important component of maintaining brand integrity and supporting sustainable growth," said Wei Zhang, Senior Counsel, Brand Protection at PUMA. "Tools such as the BPP contribute to enforcement efforts across digital channels and, in practice, support broader brand protection strategies spanning both online and offline environments."

User Mobilization at Scale

A key driver of this system is the role users continue to play in helping identify suspected infringement. More than 95% of takedown notices and reports against suspicious personal accounts came from users. Over 99% of reports on suspicious group-chat activity were submitted by users, and more than 96% of infringing accounts were discovered by users.

AI Powers Proactive Prevention

In December 2025, Weixin introduced "Mini-WA," an AI-powered assistant that delivers real-time support and actionable insights to help brands navigate the platform and improve IP governance. As digital ecosystems grow more complex, Mini-WA empowers brands with intuitive, consistent and proactive guidance, enhancing usability and early detection of potential risks.

With the rise of digital commerce and short‑form content, the BPP demonstrates a proven model for integrated IP protection and significant progress to empower brands, safeguard consumers, and foster trust online and offline.

To view the full Weixin Brand Protection Platform Report, please visit: https://static.www.tencent.com/attachments/reports/Tencent-BPP-Report-2025.pdf

For media inquiries, contact:

gc@tencent.com

Increasing Investments and Upgrading AI Capabilities to Capture New Opportunities

HONG KONG, March 18, 2026 /PRNewswire/ -- Tencent Holdings Limited (HKEX: 00700 (HKD Counter) and 80700 (RMB Counter), "Tencent" or "the Company"), a world-leading Internet and technology company in China, today announced the audited consolidated results for the year ended 31 December 2025 ("FY2025") and the unaudited consolidated results for the quarter ended 31 December 2025 ("4Q2025").

Mr. Ma Huateng, Chairman and CEO of Tencent, said, "We sustained healthy growth rates in 2025, as AI capabilities improved our ad targeting and supported more engagement with our games, and as our cloud business delivered improving revenue growth and profit at scale. Our highly resilient and cash generative core businesses provide us with the resources to fund our increasing investments in AI, including recruiting top-tier AI talent and upgrading our AI infrastructure. The increasing intelligence of our HY 3.0 large language model, and the utility of our AI products such as Yuanbao, WorkBuddy, and QClaw, are encouraging early signs that these investments will unlock new opportunities. People enjoy consuming and being entertained, and derive satisfaction from creating and being productive, and it is Tencent's privilege to provide AI services that can enhance our users' capabilities across these dimensions."

FY2025 Financial Highlights

Revenues: +14% YoY, gross profit: +21% YoY, non-IFRS^[1] operating profit: +18% YoY

• Total revenues were RMB751.8 billion, up 14% over 2024 ("YoY").
• Gross profit was RMB422.6 billion, up 21% YoY.
• On a non-IFRS basis, which is intended to reflect core earnings by excluding certain one-time and/or non-cash items:
  • Operating profit was RMB280.7 billion, up 18% YoY. Operating margin increased to 37% from 36% last year.
  • Net profit was RMB 267.0 billion, up 18% YoY.
  • Net profit attributable to equity holders of the Company was RMB259.6 billion, up 17% YoY.
  • Basic earnings per share were RMB28.577. Diluted earnings per share were RMB27.877.
• On an IFRS basis:
  • Operating profit was RMB241.6 billion, up 16% YoY. Operating margin was stable at 32% compared to 2024.
  • Net profit was RMB229.8 billion, up 17% YoY.
  • Net profit attributable to equity holders of the Company was RMB224.8 billion, up 16% YoY.
  • Basic earnings per share were RMB24.749. Diluted earnings per share were RMB24.153.
• Capital expenditure was RMB79.2 billion, up 3% YoY.
• Total cash was RMB494.9 billion, up 19%. Free cash flow was RMB182.6 billion, up 18% YoY. Net cash position totalled RMB107.1 billion, up 40%.
• The fair value of our shareholdings^[2] in listed investee companies (excluding subsidiaries) totalled RMB672.7 billion as at 31 December 2025, compared with RMB800.8 billion as at 30 September 2025. The carrying book value of our shareholdings in unlisted investee companies (excluding subsidiaries) was RMB363.1 billion as at 31 December 2025, compared with RMB345.2 billion as at 30 September 2025.
• During FY2025, the Company repurchased approximately 153.4 million shares on the Hong Kong Stock Exchange for an aggregate consideration of approximately HKD80.0 billion.

FY2025 Management Discussion and Analysis

Revenues from VAS increased by 16% year-on-year to RMB369.3 billion for the year ended 31 December 2025. Domestic Games revenues were RMB164.2 billion, up 18% year-on-year, underpinned by robust performance of recently released Delta Force, as well as higher revenues from evergreen games^[3] such as Honour of Kings and Peacekeeper Elite, and from VALORANT franchise (PC and mobile). International Games revenues were RMB77.4 billion, up 33% year-on-year (32% on a constant-currency basis), reflecting higher revenues from Supercell's games and PUBG MOBILE, as well as incremental revenue contribution from Wuthering Waves. Social Networks revenues rose by 5% year-on-year to RMB127.7 billion, due to growth in Video Accounts live streaming revenue, music subscription revenue and app-based game virtual item sales.

Revenues from Marketing Services increased by 19% year-on-year to RMB145.0 billion for the year ended 31 December 2025, primarily driven by growth in pricing and ad impressions. Pricing benefitted from AI-powered ad targeting, advertisers using AI to create more ads, and an increasing proportion of closed-loop ads (where the user clicks through to native transactional experiences, such as Mini Programs, Mini Shops, or Mini Games). Impression growth benefitted primarily from greater user engagement with products including Video Accounts and Weixin Search, and modest increases in ad load. Advertising spending grew across most major industry categories during the year.

Revenues from FinTech and Business Services grew by 8% year-on-year to RMB229.4 billion for the year ended 31 December 2025. FinTech Services revenues increased at a high single-digit rate year-on-year, due to higher revenues from wealth management services, consumer loan services, and commercial payment activities. Business Services revenues rose by a high-teens rate year-on-year, reflecting increased domestic and international demand for cloud services, including demand for AI-related services, as well as higher eCommerce technology service fees, underpinned by growth in Mini Shops GMV.

Operating Metrics

FY2025 Business Review and Outlook 

• We expanded our evergreen games portfolio with the breakout success of Delta Force, and reinforced our existing evergreen games, such as Honour of Kings and Peacekeeper Elite.
• Our International Games revenue surpassed USD10 billion in the year, driven by the sustained growth of our evergreen games and rapid expansion of our content-driven games.
• By deploying AI in games, we accelerated our content production, improved the user experience and enhanced our marketing efficiency.
• We upgraded our adtech foundation model and introduced automated campaign solution AIM+, delivering above-industry revenue growth in Marketing Services, while our ad load remained at a much lower level than peers'.
• Video Accounts' total user time spent increased over 20% year-on-year, benefitting from upgraded content recommendation algorithms and enriched content ecosystem.
• We grew user engagement with Mini Shops, Mini Games and other content-related Mini Programs at rapid year-on-year rates', by strengthening Weixin's commerce experience and content ecosystem.
• Tencent Video maintained its leading position in China's long-form video market with year-on-year growth in video subscribers. Tencent Music extended its leading position in China's music streaming market with year-on-year growth in ARPU and subscribers.
• Tencent Cloud achieved profit at scale due to increased enterprise demand for AI workloads, higher contributions from market-leading PaaS and SaaS products, and optimsed supply chain.
• Through deepened cooperation with licensed financial institutions and prudent risk management, we sustained healthy revenue growth in FinTech.
• Leveraging our proprietary data and abundant use cases, our HY foundation models became industry leaders in multimodal capabilities including 3D, text-to-image and World modeling.
• We upgraded our team with top AI talent, built processes for improving foundation model intelligence in a systematic way, and deployed new AI capabilities in services including Yuanbao and Weixin.

FY2025 Sustainability Initiatives Highlights

• Our Giving for Good campaign promoted charity as part of everyday life, by leveraging our social network, digital tools and offline partners, users engaged in over 530 million philanthropic acts.
• Through our XPLORER PRIZE and New Cornerstone Investor Program, which aim at helping scientists to pursue original breakthroughs in fundamental research, we have supported over 430 outstanding scientists.
• By improving energy efficiency, advancing our transition to green electricity and implementing supply chain decarbonisation initiatives, we are well on track to reach our carbon neutrality target by 2030.
• Our efforts in sustainability development were recognised with inclusion in major ESG indices, improvements in ESG ratings such as an MSCI rating upgrade from BBB to A, and ESG awards.

4Q2025 Financial Highlights

Revenues: +13% YoY, gross profit: +19% YoY, non-IFRS operating profit: +17% YoY

• Total revenues were RMB194.4 billion, up 13% over the fourth quarter of 2024.
• Gross profit was RMB108.3 billion, up 19% YoY.
• On a non-IFRS basis, which is intended to reflect core earnings by excluding certain one-time and/or non-cash items:
  • Operating profit was RMB69.5 billion, up 17% YoY. Operating margin increased to 36% from 34% last year.
  • Net profit was RMB 66.7 billion, up 18% YoY.
  • Net profit attributable to equity holders of the Company was RMB64.7 billion, up 17% YoY.
  • Basic earnings per share were RMB7.144. Diluted earnings per share were RMB6.966.
• On an IFRS basis:
  • Operating profit was RMB60.3 billion, up 17% YoY. Operating margin increased to 31% from 30% last year.
  • Net profit was RMB59.1 billion, up 15% YoY.
  • Net profit attributable to equity holders of the Company was RMB58.3 billion, up 14% YoY.
  • Basic earnings per share were RMB6.433. Diluted earnings per share were RMB6.276.
• Capital expenditure was RMB19.6 billion, down 46% YoY.

4Q2025 Management Discussion and Analysis

Revenues from VAS increased by 14% year-on-year to RMB89.9 billion for the fourth quarter of 2025. Domestic Games revenues were RMB38.2 billion, up 15% year-on-year, driven by Delta Force, increased revenues from VALORANT franchise (PC and mobile), as well as incremental revenue contribution from Wuthering Waves. International Games revenues were RMB21.1 billion, up 32% year-on-year (31% on a constant-currency basis), primarily due to higher revenues from Supercell's games and PUBG MOBILE, alongside incremental revenue contribution from Wuthering Waves. Social Networks revenues grew by 3% year-on-year to RMB30.6 billion, reflecting growth in Video Accounts live streaming revenue and music subscription revenue.

Revenues from Marketing Services were RMB41.1 billion for the fourth quarter of 2025, up 17% year-on-year. Enhancements to AI-powered ad targeting and expansion of closed-loop marketing capabilities within the Weixin ecosystem boosted ad performance and pricing, and represented the main drivers of growth. Ad impressions increased slightly, due to greater user engagement and modest increases in ad load.

Revenues from FinTech and Business Services increased by 8% year-on-year to RMB60.8 billion for the fourth quarter of 2025. FinTech Services revenue growth was mainly due to higher revenues from wealth management services and commercial payment activities. Business Services revenue growth accelerated to 22% year-on-year, reflecting higher cloud services revenues across domestic and international markets, including revenues for AI-related services, as well as higher eCommerce technology service fees, mainly arising from growth in Mini Shops GMV.

For other detailed disclosure, please refer to our website https://www.tencent.com/en-us/investors.html, or follow us via Weixin Official Account (Weixin ID: TencentGlobal).

About Tencent

Tencent uses technology to enrich the lives of Internet users.

Our communication and social services, Weixin and QQ, connect users with each other and with digital content and services, both online and offline, making their lives more convenient. Our targeted marketing services helps advertisers reach out to hundreds of millions of consumers in China. Our FinTech and business services support partners' business growth and assist their digital upgrade.

Tencent invests heavily in talent and technological innovation, actively promoting the development of the Internet industry. Tencent was founded in Shenzhen, China, in 1998. Tencent has been listed on the Main Board of the Stock Exchange of Hong Kong since 2004.

Investor contact: IR@tencent.com
Media contact: GC@tencent.com

Non-IFRS Financial Measures

To supplement the consolidated results of the Group ("the Company and its subsidiaries") prepared in accordance with IFRS, certain additional non-IFRS financial measures (in terms of operating profit, operating margin, profit for the period, profit attributable to equity holders of the Company, basic EPS and diluted EPS) have been presented in this press release. These unaudited non-IFRS financial measures should be considered in addition to, not as a substitute for, measures of the Group's financial performance prepared in accordance with IFRS. In addition, these non-IFRS financial measures may be defined differently from similar terms used by other companies.

The Company's management believes that the non-IFRS financial measures provide investors with useful supplementary information to assess the performance of the Group's core operations by excluding certain non-cash items and certain impact of investment-related transactions. In addition, non-IFRS adjustments include relevant non-IFRS adjustments for the Group's major associates based on available published financials of the relevant major associates, or estimates made by the Company's management based on available information, certain expectations, assumptions and premises.

Forward-Looking Statements

This press release contains forward-looking statements relating to the business outlook, estimates of financial performance, forecast business plans and growth strategies of the Group. These forward-looking statements are based on information currently available to the Group and are stated herein on the basis of the outlook at the time of this press release. They are based on certain expectations, assumptions and premises, some of which are subjective or beyond our control. These forward-looking statements may prove to be incorrect and may not be realised in the future. Underlying these forward-looking statements are a lot of risks and uncertainties. In light of the risks and uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as representations by the Board or the Company that the plans and objectives will be achieved, and investors should not place undue reliance on such statements.

CONDENSED CONSOLIDATED INCOME STATEMENT 

RMB in millions, unless specified

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

RMB in millions, unless specified

OTHER FINANCIAL INFORMATION 

RMB in millions, unless specified

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION