BIZCHINA / Biz Media Digest
IT: Tencent's shares fall
(Shanghai Daily)
Updated: 2006-08-24 17:00
Hong Kong-listed Tencent Holdings Limited, China's biggest instant
message service provider, said yesterday its first half revenue more than
doubled year on year, led by growth in its Internet value-added services
like online games and voice chat.
But shares of Tencent fell yesterday as the company said it expects
enforcement of China Mobile's tougher measures on its service providers
will hurt its wireless value-added services, resulting in reduced growth
of subscriptions and a loss of existing customers. Its shares fell 2.31
percent yesterday to HK$16.90.
First half revenues rose by 112.9 percent from a year earlier to 1.350
billion yuan. Net profits hit 517.6 million yuan, a year-on-year increase
of 82.3 percent.
(For more biz stories, please visit Industry Updates)
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