Tencent Holdings Limited is a Chinese multinational technology conglomerate founded in 1998 and headquartered in Shenzhen. Best known for Weixin/WeChat and QQ, the company operates across social platforms, digital content and gaming, fintech and business services, advertising, and cloud, and is listed on the Hong Kong Stock Exchange under code 0700.
Last updated November 19, 2025
Tencent Holdings Limited is a Chinese multinational technology conglomerate and holding company founded in 1998 and headquartered in Shenzhen, with operations spanning social platforms, digital content and gaming, fintech and business services, online advertising, and cloud technologies. Encyclopaedia Britannica; Tencent Integrity Policy.
Founding and corporate development
Tencent was formed in 1998 by Ma Huateng (known as Ma Huateng), Zhang Zhidong, Xu Chenye, Chen Yidan, and Zeng Liqing, initially building its user base around an instant messaging product launched in 1999 as OICQ and later renamed QQ. Encyclopaedia Britannica.
Tencent’s shares began trading on the Main Board of the Hong Kong Stock Exchange on June 16, 2004, with an initial offer price of HK$3.70 per share. Tencent—HKEX listing announcement.
Tencent’s listed vehicle is incorporated in the Cayman Islands, as disclosed in the company’s service agreement and shareholder information. Tencent Service Agreement; Tencent—Shareholder Information.
Platforms, products, and services
Weixin/WeChat (WeChat) functions as a multi-purpose platform integrating messaging, social networking, payments, and a “Mini Program” app ecosystem used by consumers and enterprises, while QQ (QQ) continues to serve as a major instant messaging and social service. Tencent—Business overview; Tencent—2024 Annual and Q4 results.
As of December 31, 2024, combined Weixin/WeChat monthly active accounts were reported at 1.385 billion, and QQ mobile monthly active accounts were 524 million. Tencent—2024 Annual and Q4 results.
Weixin Pay (mainland) and WeChat Pay HK enable domestic and cross‑border transactions, with Tenpay acting as the payment licensee and platform provider; China’s central bank approved Tenpay’s registered capital increase to RMB 15.3 billion in March 2024, and Tencent subsequently expanded inbound remittance and wallet interoperability through partnerships such as PayPal’s Xoom and Tenpay Global. Reuters; Tencent—Xoom partnership; Tencent—Cross‑border payments update.
Tencent’s segment disclosures emphasize value‑added services (including online games and social networks), fintech and business services, and online advertising, with AI‑enhanced ad systems and Video Accounts engagement highlighted in recent reporting. Tencent—2024 Annual and Q4 results.
Games, content, and selected investments
Tencent operates one of the world’s largest gaming portfolios through internal studios and equity investments, including full ownership of Riot Games (acquired completely in 2015) and significant stakes in Epic Games and Supercell. TechCrunch; GameSpot; SoftBank press release.
Riot Games, developer of League of Legends, became a wholly owned subsidiary after Tencent purchased the remaining equity in 2015. TechCrunch.
Tencent acquired a 40% minority interest in Epic Games in 2012, as subsequently confirmed by Epic’s founder. GameSpot.
A Tencent‑led consortium agreed to acquire up to 84% of Supercell, valuing the company at about USD 10.2 billion in 2016, while preserving Supercell’s independent operations. SoftBank press release.
Tencent Music Entertainment (TME), which operates QQ Music, Kugou, Kuwo, and WeSing, listed on the NYSE in December 2018 and previously entered a mutual minority stake arrangement with Spotify. CNBC; TechCrunch.
Regulation and policy environment
Chinese authorities have periodically adjusted video‑game and platform rules, including a temporary freeze on game approvals in 2018 before approvals resumed, and rules from 2021 limiting online play for minors to three hours per week. CNBC; CNBC.
In December 2023, draft curbs proposed further restrictions on monetization features and in‑game incentives; subsequent approvals of new titles continued, illustrating ongoing regulatory calibration. AP News; AP News.
Financials, ownership, and ratings
For the year ended December 31, 2024, Tencent reported total revenue of RMB 660.3 billion (up 8% year‑on‑year), IFRS operating profit of RMB 208.1 billion (up 30%), and capital expenditures of RMB 76.8 billion, with management highlighting AI‑driven improvements in advertising and long‑lifecycle titles in games. Tencent—2024 Annual and Q4 results.
Tencent’s 4Q24 revenue rose 11% year‑on‑year to RMB 172.4 billion, with domestic and international game revenues both contributing alongside growth in marketing services. Reuters.
Prosus (majority‑owned by Naspers) remains Tencent’s largest shareholder and has continued an open‑ended sell‑down program; as of July 2025, public updates indicated a stake of roughly 23%. Investing.com; Business Wire.
The company’s long‑term credit ratings are disclosed as A+ (S&P), A (Fitch), and A1 (Moody’s) on its investor site. Tencent—Credit ratings.
AI and cloud
Tencent announced its proprietary large language model “Hunyuan” in 2023 for enterprise use via Tencent Cloud, and has since emphasized accelerated AI investment to enhance products such as advertising, search, and content creation. Tencent—Hunyuan launch; Tencent—2024 Annual and Q4 results.
Tencent’s listed entity is a Cayman Islands company with principal share registrar in the Cayman Islands and Hong Kong branch registrar at Computershare, consistent with common structures for overseas‑listed Chinese internet firms. Tencent—Service Agreement; Tencent—Shareholder Information.
Tencent Holdings Limited is a Chinese multinational technology conglomerate founded in 1998 and headquartered in Shenzhen. Best known for Weixin/WeChat and QQ, the company operates across social platforms, digital content and gaming, fintech and business services, advertising, and cloud, and is listed on the Hong Kong Stock Exchange under code 0700.
Last updated November 19, 2025
Tencent Holdings Limited is a Chinese multinational technology conglomerate and holding company founded in 1998 and headquartered in Shenzhen, with operations spanning social platforms, digital content and gaming, fintech and business services, online advertising, and cloud technologies. Encyclopaedia Britannica; Tencent Integrity Policy.
Founding and corporate development
Tencent was formed in 1998 by Ma Huateng (known as Ma Huateng), Zhang Zhidong, Xu Chenye, Chen Yidan, and Zeng Liqing, initially building its user base around an instant messaging product launched in 1999 as OICQ and later renamed QQ. Encyclopaedia Britannica.
Tencent’s shares began trading on the Main Board of the Hong Kong Stock Exchange on June 16, 2004, with an initial offer price of HK$3.70 per share. Tencent—HKEX listing announcement.
Tencent’s listed vehicle is incorporated in the Cayman Islands, as disclosed in the company’s service agreement and shareholder information. Tencent Service Agreement; Tencent—Shareholder Information.
Platforms, products, and services
Weixin/WeChat (WeChat) functions as a multi-purpose platform integrating messaging, social networking, payments, and a “Mini Program” app ecosystem used by consumers and enterprises, while QQ (QQ) continues to serve as a major instant messaging and social service. Tencent—Business overview; Tencent—2024 Annual and Q4 results.
As of December 31, 2024, combined Weixin/WeChat monthly active accounts were reported at 1.385 billion, and QQ mobile monthly active accounts were 524 million. Tencent—2024 Annual and Q4 results.
Weixin Pay (mainland) and WeChat Pay HK enable domestic and cross‑border transactions, with Tenpay acting as the payment licensee and platform provider; China’s central bank approved Tenpay’s registered capital increase to RMB 15.3 billion in March 2024, and Tencent subsequently expanded inbound remittance and wallet interoperability through partnerships such as PayPal’s Xoom and Tenpay Global. Reuters; Tencent—Xoom partnership; Tencent—Cross‑border payments update.
Tencent’s segment disclosures emphasize value‑added services (including online games and social networks), fintech and business services, and online advertising, with AI‑enhanced ad systems and Video Accounts engagement highlighted in recent reporting. Tencent—2024 Annual and Q4 results.
Games, content, and selected investments
Tencent operates one of the world’s largest gaming portfolios through internal studios and equity investments, including full ownership of Riot Games (acquired completely in 2015) and significant stakes in Epic Games and Supercell. TechCrunch; GameSpot; SoftBank press release.
Riot Games, developer of League of Legends, became a wholly owned subsidiary after Tencent purchased the remaining equity in 2015. TechCrunch.
Tencent acquired a 40% minority interest in Epic Games in 2012, as subsequently confirmed by Epic’s founder. GameSpot.
A Tencent‑led consortium agreed to acquire up to 84% of Supercell, valuing the company at about USD 10.2 billion in 2016, while preserving Supercell’s independent operations. SoftBank press release.
Tencent Music Entertainment (TME), which operates QQ Music, Kugou, Kuwo, and WeSing, listed on the NYSE in December 2018 and previously entered a mutual minority stake arrangement with Spotify. CNBC; TechCrunch.
Regulation and policy environment
Chinese authorities have periodically adjusted video‑game and platform rules, including a temporary freeze on game approvals in 2018 before approvals resumed, and rules from 2021 limiting online play for minors to three hours per week. CNBC; CNBC.
In December 2023, draft curbs proposed further restrictions on monetization features and in‑game incentives; subsequent approvals of new titles continued, illustrating ongoing regulatory calibration. AP News; AP News.
Financials, ownership, and ratings
For the year ended December 31, 2024, Tencent reported total revenue of RMB 660.3 billion (up 8% year‑on‑year), IFRS operating profit of RMB 208.1 billion (up 30%), and capital expenditures of RMB 76.8 billion, with management highlighting AI‑driven improvements in advertising and long‑lifecycle titles in games. Tencent—2024 Annual and Q4 results.
Tencent’s 4Q24 revenue rose 11% year‑on‑year to RMB 172.4 billion, with domestic and international game revenues both contributing alongside growth in marketing services. Reuters.
Prosus (majority‑owned by Naspers) remains Tencent’s largest shareholder and has continued an open‑ended sell‑down program; as of July 2025, public updates indicated a stake of roughly 23%. Investing.com; Business Wire.
The company’s long‑term credit ratings are disclosed as A+ (S&P), A (Fitch), and A1 (Moody’s) on its investor site. Tencent—Credit ratings.
AI and cloud
Tencent announced its proprietary large language model “Hunyuan” in 2023 for enterprise use via Tencent Cloud, and has since emphasized accelerated AI investment to enhance products such as advertising, search, and content creation. Tencent—Hunyuan launch; Tencent—2024 Annual and Q4 results.
Tencent’s listed entity is a Cayman Islands company with principal share registrar in the Cayman Islands and Hong Kong branch registrar at Computershare, consistent with common structures for overseas‑listed Chinese internet firms. Tencent—Service Agreement; Tencent—Shareholder Information.
