Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Chinese Electric Vehicle Startup Xpeng Receives Investment to Build Production Base in Guangzhou
Video Site Operator Mango Plans to Raise $660 Million to Expand Content Library
Chinese Biotech Firm Creative Biosciences Raises $88m From IDG, CDH, Others
Alibaba’s Ant Group Launches Blockchain-Based Platform to Streamline Cross-Border Trade
Trending in China: Mission Impossible? Young Environmental Hero Tries To Clean Up Tibet
Chinese Online Travel Agency Sees Revenue Plummet As Covid-19 Fallout Lingers
Chinese Supply Chain Provider Xingyun Closes $200m in a Series C Round
Chinese EV Charging Operator Star Charge Nabs $125m Co-Led by Schneider, CICC
Trending in China: One of China’s Weirder Poverty Alleviation Programs Goes Viral with 100m Plus Views
Chinese Carmaker Geely Signs Driver-Assistance System Deal with Mobileye
Chinese Genomics Company BGI to Provide Ethiopia with Coronavirus Testing Kits Made at African Plant
Trending in China: Autumn Milk Tea – Cynical Marketing Strategy or True Friendship?
IFC Mulls $80m Loan to Chinese Pig Rearing Firm Guangxi Yangxiang
Short Video Firm Kuaishou Optimizes Its E-Commerce By Connecting Livestreamers With Quality Products
Segway Owner Set to Make History With Shanghai IPO
BMW’s Use of High-Density Batteries Raises Safety Concerns
ByteDance Applies for Chinese Tech Export License as TikTok Negotiations Continue
Trending in China: Macau Eases Travel Restrictions but Will Covid-19 Tests Kill People’s Travel Bug?
Alibaba Subsidiary Cainiao Pushes Into Malaysia With Cross-Border Delivery Service
Trending in China: School Throws Away Students’ Food Deliveries To Force Use of Canteen
Tencent Q4 Profit Rises 52% on Growing International Games, Fintech Businesses

By Yang Ge / Mar 18, 2020 06:46 PM / Business & Tech

Photo: VCG

Photo: VCG

Leading online game operator Tencent Holdings Ltd. reported strong profit growth in last year’s fourth quarter, fueled by strong performance for its international games and fintech businesses.

Tencent said its revenue grew 25% in the final three months of 2019 to 105.8 billion yuan ($15.1 billion), while its profit rose by an even stronger 52% to 21.6 billion yuan, according to its latest quarterly report released after markets closed on Wednesday.

While its overall online game revenue rose by a modest 10% for all of 2019, international game revenue more than doubled in the fourth quarter and accounted for 23% of total gaming revenue for the three-month period, the company said.

The company also posted strong gains for its mobile payments business, as its WeChat-based service battles with Alibaba’s Alipay for market share in the popular space that is quickly making cash obsolete in many Chinese cities. Tencent said that in the fourth quarter its fintech division averaged in excess of 1 billion daily commercial payment transactions, covered more than 800 million monthly active users, and work with over 50 million monthly active merchants.

The company said that fintech services accounted for 27% of its total revenue for all of 2019, up from 23% for the previous year.

Contact reporter Yang Ge (

Related: Tencent Music Announces Moves Into Black in Q4 2019 As Paying Users Grew

Share this article
Open WeChat and scan the QR code