Zhi Tong Cai Jing·2025-08-13 08:54Financial Performance - Tencent Holdings reported Q2 2025 revenue of RMB 184.5 billion, a year-on-year increase of 15% and a quarter-on-quarter increase of 2% [1] - Gross profit for the same period was RMB 105.01 billion, reflecting a year-on-year growth of 22% and a quarter-on-quarter growth of 4% [1] - Profit attributable to equity holders reached RMB 55.63 billion, up 17% year-on-year and 16% quarter-on-quarter [1] - Non-IFRS profit attributable to equity holders was RMB 63.05 billion, a 10% year-on-year increase and a 3% quarter-on-quarter increase [1] - Basic earnings per share were RMB 6.115 [1] Business Segments - Value-added services revenue for Q2 2025 grew 16% year-on-year to RMB 91.4 billion, driven by new game releases and growth in established titles [1] - Domestic game revenue was RMB 40.4 billion, up 17% year-on-year, supported by the success of titles like "Delta Operation" and "Honor of Kings" [1] - International game revenue reached RMB 18.8 billion, a 35% year-on-year increase, benefiting from Supercell games and "PUBG MOBILE" [1] - Social network revenue increased 6% year-on-year to RMB 32.2 billion, attributed to sales of virtual items and live streaming services [1] Marketing and Financial Services - Marketing services revenue for Q2 2025 rose 20% year-on-year to RMB 35.8 billion, driven by AI-enhanced advertising platforms and improved WeChat ecosystem [2] - Financial technology and enterprise services revenue grew 10% year-on-year to RMB 55.5 billion, with growth in consumer loans and business payments [2] - The demand for AI-related services, including GPU leasing and API token usage, contributed to the acceleration in enterprise service revenue growth [2] User Engagement and AI Development - As of June 30, 2025, WeChat and WeChat's combined monthly active accounts reached 1.411 billion, a 3% year-on-year increase [3] - QQ's mobile monthly active accounts were 532 million, with paid value-added service subscribers at 264 million, a 0.4% year-on-year increase [3] - Tencent Video maintained its leading position in China's long video market with 114 million paid subscribers [3] - Tencent Music led the music streaming market with 124 million paid subscribers [3] - The company continues to invest in AI, with advancements in its mixed Yuan model capabilities attracting various developers and industries [3]