腾讯控股(00700) - 2022 - 中期财报

Financial Performance - Tencent's revenue for Q2 2022 was RMB 134.034 billion, a decrease of 3% year-over-year from RMB 138.259 billion[2] - The company's operating profit for Q2 2022 was RMB 30.067 billion, down 43% from RMB 52.487 billion in Q2 2021[2] - Net profit attributable to equity holders for Q2 2022 was RMB 18.619 billion, a decline of 56% compared to RMB 42.587 billion in the same period last year[2] - The basic earnings per share for Q2 2022 was RMB 1.951, a decrease of 56% from RMB 4.472 in Q2 2021[2] - Tencent's total revenue for the first half of 2022 was RMB 269.505 billion, down 1% from RMB 273.562 billion in the first half of 2021[3] - The company's net profit attributable to equity holders for the first half of 2022 was RMB 42.032 billion, a decline of 53% from RMB 90.354 billion in the same period last year[3] - Non-IFRS operating profit for Q2 2022 was RMB 36.667 billion, a decrease of 14% from RMB 42.802 billion in Q2 2021[2] - Non-IFRS basic earnings per share for Q2 2022 was RMB 2.949, down 17% from RMB 3.574 in Q2 2021[2] - The company reported a net profit margin of 14% for the first half of 2022, compared to 22% in the same period of 2021[28] - The adjusted EBITDA for Q2 2022 was RMB 44.668 billion, down from RMB 46.102 billion in Q1 2022[26] - Adjusted EBITDA for the first half of 2022 was RMB 90,770 million, down from RMB 103,274 million in the first half of 2021, reflecting a decrease of 12.1%[27] User Metrics - Monthly active user accounts for WeChat and Weixin reached 1,299.1 million, an increase of 3.8% year-over-year[6] - The number of mobile active accounts for QQ was 568.7 million, a decrease of 3.8% year-over-year[6] - The number of paid members for value-added services increased by 2% year-on-year to 235 million, with Tencent Video's paid members reaching 122 million[9] Revenue Breakdown - Revenue for Q2 2022 decreased by 3% year-on-year to RMB 134.034 billion, with value-added services contributing RMB 71.683 billion (53% of total revenue) and online advertising revenue down 18% to RMB 18.638 billion[18] - The international gaming revenue declined by 1% to RMB 10.7 billion, while domestic gaming revenue also fell by 1% to RMB 31.8 billion, reflecting challenges in both markets[18] - Financial technology and enterprise services revenue grew by 1% year-on-year to RMB 42.208 billion, although growth in financial technology services slowed due to COVID-19 impacts[20] - The revenue from value-added services for the six months ended June 30, 2022, was RMB 144,421 million, slightly down from RMB 144,456 million in the previous year[39] - Online advertising revenue for the six months ended June 30, 2022, was RMB 36,626 million, a significant decrease of 17.9% compared to RMB 44,653 million in the same period of 2021[39] Cost and Expenses - Cost of revenue increased by 1% year-on-year to RMB 76.167 billion, with the cost as a percentage of revenue rising from 55% to 57%[20] - Sales and marketing expenses decreased by 21% year-on-year to RMB 7.9 billion, reflecting stricter control over marketing expenditures[22] - General and administrative expenses increased by 16% year-on-year to RMB 26.2 billion, driven by higher R&D and employee costs[22] - Employee benefit expenses for the six months ended June 30, 2022, increased to RMB 56.779 billion, compared to RMB 44.388 billion in the same period of 2021, reflecting a growth of approximately 28.2%[79] - Research and development expenses for the six months ended June 30, 2022, were approximately RMB 30.393 billion, up from RMB 24.129 billion in the same period of 2021, indicating a year-on-year increase of about 26%[80] Investment and Financial Position - The investment portfolio value as of June 30, 2022, was approximately RMB 679.608 billion, down from RMB 878.653 billion as of December 31, 2021[32] - The company reported a net loss from associates and joint ventures of RMB 4.46 billion in Q2 2022, an improvement from RMB 6.28 billion in Q1 2022[25] - The company’s total assets decreased to RMB 1,459,669 million from RMB 1,612,364 million, representing a decline of approximately 9.4% year-over-year[43] - The company's equity attributable to shareholders decreased to RMB 736,494 million from RMB 806,299 million, a decline of around 8.6%[44] - The company reported a total comprehensive income of RMB 151.27 million for the six months ended June 30, 2022, which includes a profit of RMB 90.35 million[50] Cash Flow and Liquidity - Free cash flow for the second quarter of 2022 was RMB 22.5 billion, with net cash flow from operating activities at RMB 35.7 billion[34] - Cash and cash equivalents as of June 30, 2022, totaled RMB 184,658 million, compared to RMB 188,826 million as of March 31, 2022[34] - Operating cash flow for the six months ended June 30, 2022, was RMB 69,523 million, down from RMB 82,956 million in the same period of 2021, representing a decrease of approximately 16%[52] - The company reported a cash dividend payment of RMB 12,952 million to shareholders during the six months ended June 30, 2022, compared to RMB 12,503 million in the same period of 2021[53] Shareholder Information - The company did not declare any interim dividends for the six months ended June 30, 2022, consistent with the previous year[15] - The board declared a special interim dividend of approximately 457 million shares of JD Group Class A ordinary shares, with a payable dividend of about RMB 84.6 billion measured at fair value[92] - Tencent's chairman, Ma Huateng, holds approximately 8.36% of the company's shares, totaling 804,859,700 shares[152] Strategic Initiatives - The company plans to continue investing in new technologies and market expansion strategies to drive future growth despite the current performance challenges[28] - The company aims to strengthen its leadership in core businesses and enhance its "connectivity" strategy across various industries[32] - The acquisition of Sumo is expected to enhance the company's market position and operational capabilities[148] Accounting and Compliance - The company adopted several accounting standard revisions effective January 1, 2022, but these did not have a significant impact on the consolidated financial statements[58] - The financial risk management policies remained unchanged during the six months ended June 30, 2022, indicating stability in risk management practices[63] - The company continues to assess its creditworthiness based on its business and financial risk situation, ensuring ongoing operational capability[64]