Tencent Holdings Limited released its annual results, with a profit attributable to shareholders of HKD 224.842 billion, an increase of 16% year-on-year, and a final dividend of HKD 5.3 per share

According to the Zhitong Finance APP, Tencent Holdings (00700) released its annual performance for the year ending December 31, 2025, with the group achieving revenue of RMB 751.766 billion, an increase of 14% year-on-year; the profit attributable to equity holders of the company was RMB 224.842 billion, an increase of 16% year-on-year; the profit attributable to equity holders of the company under non-International Financial Reporting Standards was RMB 259.626 billion, an increase of 17% year-on-year; basic earnings per share were RMB 24.749, with a proposed final dividend of HKD 5.3 per share.

For the three months ending December 31, 2025, the group achieved revenue of RMB 194.371 billion, an increase of 13% year-on-year; the profit attributable to equity holders of the company was RMB 58.26 billion, an increase of 14% year-on-year; the profit attributable to equity holders of the company under non-International Financial Reporting Standards was RMB 64.694 billion, an increase of 17% year-on-year; basic earnings per share were RMB 6.433.

In 2025, we maintained healthy growth, benefiting from AI technology that enhanced our advertising targeting capabilities and player interactions in games, as well as accelerated growth in cloud business revenue achieving scalable profitability. Our core business is resilient and generates ample cash flow, supporting our increased investment in AI, including recruiting top AI talent and upgrading AI infrastructure. Our Hunyuan 3.0 large language model's intelligence level continues to improve, and AI products such as Yuanbao, WorkBuddy, and QClaw are generating practical utility. These encouraging early signs indicate that our investment in AI will open up new opportunities for us. People enjoy consumption and entertainment while also finding satisfaction in creation and efficient work. Tencent is honored to provide AI services that empower users comprehensively, helping them excel in these areas.

The revenue from value-added services for the year ending December 31, 2025, increased by 16% to RMB 369.3 billion. Domestic game revenue was RMB 164.2 billion, an increase of 18% year-on-year, benefiting from the strong performance of the recently released "Delta Operation," as well as revenue growth from evergreen games such as "Honor of Kings," "Peacekeeper Elite," and the "Valorant" series (on PC and mobile). International game revenue was RMB 77.4 billion, an increase of 33% year-on-year (32% at constant exchange rates), benefiting from revenue growth from games under Supercell and "PUBG MOBILE," as well as incremental revenue contributions from "Ningchao." Social network revenue increased by 5% year-on-year to RMB 127.7 billion, due to growth in revenue from video account live streaming services, music paid membership income, and virtual item sales from mobile game applications.

The revenue from marketing services for the year ending December 31, 2025, increased by 19% to RMB 145 billion, mainly due to growth in advertising unit prices and advertising exposure. Advertising unit prices benefited from AI-driven advertising precision targeting, advertisers using AI to create more ads, and the continuous increase in the proportion of closed-loop advertising (where users can directly access mini-programs, WeChat shops, or mini-games after clicking on ads). The growth in exposure was mainly due to increased user engagement with products including video accounts and WeChat search, as well as a slight increase in advertising loading rates. Most major industries saw an increase in advertising spending during the year Revenue from financial technology and enterprise services for the year ending December 31, 2025, is expected to grow by 8% year-on-year to CNY 229.4 billion. Revenue from financial technology services is expected to grow in the high single digits year-on-year, driven by increases in income from wealth management services, consumer loan services, and commercial payment activities. Revenue from enterprise services is expected to grow nearly 20% year-on-year, benefiting from increased domestic and overseas demand for cloud services (including demand for AI-related services) and growth in merchant technology service fees driven by an increase in transaction volume on WeChat Mini Stores