Mr. Ma, 52, kept a low profile during China’s war. 32 months of crackdown on big tech companiesdelivered that positive message in a speech before Tencent’s annual staff meeting held at the stadium on Monday. shenzhenthe company’s headquarters in southern Guangdong province.
Founded in November 1998, Tencent must find a new lifeline for itself. video game and Social media Two people who attended the meeting said Mr. Ma spoke to employees about business operations at the event. In particular, he expected further growth from WeChat, which has been in existence for 13 years, saying, “New buds should emerge from old trees.”
Mr. Ma, who wore a sober dark jacket on stage, said that Tencent’s developers have been working hard on the company over the past year, despite China’s weak post-pandemic economic recovery, according to people who heard the speech. He said that he has been working hard to develop new products to increase the vitality of people. .
Pony Ma Fateng, co-founder, chairman and CEO of Tencent Holdings, presents the internet giant’s business this year at the annual employee meeting in Shenzhen on January 29, 2024. The outlook seemed positive. Photo: SCMP
Tencent did not immediately respond to a request for comment on Monday.
Mr. Ma’s optimistic tone at Monday’s event was in stark contrast to his message to employees at City Hall in December 2022, where he said: Cost reduction efforts will continue into 2023. He also said there was a need to refocus the company’s core business and chided employees for a lack of urgency when it came to improving efficiency.
Tencent’s chairman’s encouraging speech came a few months later. sang praises Chinese government’s 31-point action planprovided policy solutions to strengthen the country’s private sector.
Hong Kong stock prices fell over the quarter in 2023, partly due to Sale of largest shareholder ProsusAmid the overall market downturn, Tencent’s stock performance has remained relatively stable compared to other Chinese big tech companies. Meituan Although it fell 60% during the same period, China’s second-largest video short video service provider Kuaisho Technology I lost nearly 40%.
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Ma on Monday praised WeChat (known as Weixin on the mainland), which has more than 1.3 billion monthly users, for making significant progress through its channel service. part time dance-Owned DoonChinese version of tick tock.
Ma said Tencent, which operates the world’s largest video game business by revenue and China’s largest social media business, is also nurturing “new seeds” such as mini-programs and mini-games to further strengthen its WeChat business. Stated. This year, the company will also expand its video game business overseas, he added.
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Ma also told employees to remain calm amid the government’s restrictive policies, according to a portion of the speech reported by Chinese media outlet Jie Meian on Monday.
The move comes as the Chinese government seeks to boost investor confidence in its capital markets.
