yesterday $TENCENT (00700.HK)$Release financial reports, and at the same time announce the disbursement of special dividends to reduce holdings $MEITUAN-W (03690.HK)$。
Let's discuss this matter comprehensively.
1 financial report
Third quarterRevenue of 140.1 billion yuan, slightly lower than the estimated value of 141.4 billion yuan;Guimu's net profit is 399 billion yuan, significantly higher than the estimated value of 25.19 billion yuan;Net profit attributable to the mother according to non-international standards is 32.3 billion yuan, higher than the estimated value of 30.16 billion yuan.
Judging from the financial statements, all sectors are still at the bottom. With the exception of fintech and corporate services businesses, the year-on-year decline is still ongoing.
As we have analyzed before, it is hard to say that Tencent's size has bucked the trend without the general environment of economic fundamentals.
The macro environment was not good this year; this data was to be expected.
We consider that domestic policies are now gradually being relaxed, and there is an expectation that fundamentals will hit bottom. For Tencent, the bottom of performance is about the same.
The main reason for the return mother's net profit exceeding expectations is the red part in the chart above, other net earnings.
Tencent made financial account adjustments for overseas investment companies and SEA, an e-commerce platform in Southeast Asia.
This entry should be understood that way.
Tencent has shown very strong investment ability over the past 10 years. Although from a financial perspective, this kind of investment should not be included in Tencent's main business, in fact, the stocks and shares in these hands are assets.
While the industry is in a downward range...