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Ma Huateng

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Ma Huateng

The latest news on Chinese business magnate, investor and philanthropist Ma Huateng, co-founder and CEO of Tencent, including business news and updates.

Born

29 Oct 1971

Industry

Technology, Business

Job Title

Founder, CEO of Tencent

Tencent CEO Pony Ma speaks at the opening ceremony of the fifth World Internet Conference in Wuzhen, Zhejiang province, on November 7, 2018. Photo: Reuters

Tencent’s low-profile CEO praises China’s economic policy, stimulus

The entrepreneur wrote in People’s Daily that the government has shown ‘strong determination’ in pushing for economic recovery.

12 Dec 2024 - 5:00PM

Tencent profit jumps 82% on back of strong video gaming, ad growth

14 Aug 2024 - 9:30PM

Tencent to close online education platform as restructuring efforts continue

1 Jul 2024 - 5:02PM

Tencent launches Yuanbao AI chatbot in bid to close gap with Baidu and ByteDance

Yuanbao can be used to analyse and summarise documents, provide questions and answers, and generate texts and images.

30 May 2024 - 9:59PM

Tencent Holdings’ launch of Yuanbao shows its confidence to somehow close the gap with Chinese tech firms’ that have had a head start in building ChatGPT-like services. Photo: Shutterstock

China-led research team pinpoints smallest star and its ghostly lone companion

Study reveals unique binary system made up of a white dwarf and a tiny hot subdwarf, just seven times bigger than Earth.

19 Feb 2024 - 10:00AM

China stock market

Investors want Beijing to do more to keep the US$380 billion stock rally going

China will have to do more to convince stock investors about the sustainability of the market rally spurred by recent rescue measures, fund managers Pictet and Saxo say.

14 Feb 2024 - 7:30AM

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Tencent takes control of Chinese gaming studio behind Swords of Legends franchise

Chinese social media and gaming giant Tencent Holdings has acquired a controlling stake in a 15-year-old local video game studio, a move that fits with the company’s revenue diversification strategy.

5 Feb 2024 - 6:59PM

Tencent Holdings signage seen at its headquarters in Shenzhen on January 17, 2024. Photo: Bloomberg

Hong Kong stock market

Hong Kong stocks log worst month since February on China slump, Fed outlook

Bearish investors dominated the local stock market in January, as China’s lack of stimulus showed up in weak manufacturing data. With the Fed seen on hold, there will not be any early relief for the city’s property market.

31 Jan 2024 - 4:40PM

Game on in overseas markets as Chinese studios like Tencent seek growth: survey

Only three of 33 Chinese video gaming companies said ‘global political and economic turbulence’ had a ‘relatively big’ impact on overseas operations, according to industry survey.

31 Jan 2024 - 2:08PM

ByteDance CEO wants to whip employees into shape amid fierce competition

Chief executive Liang Rubo said ByteDance has become slow and inefficient in the face of increased competition.

31 Jan 2024 - 2:57PM

ByteDance operations saw at least three rounds of lay-offs last year. Photo: Reuters

Tencent CEO Pony Ma asks fintech unit to cede share in payments market

The founder also warns staff to focus on ‘safety, not speed’ when venturing into new fintech services like loans and insurance, according to Chinese media reports and people familiar with the situation.

30 Jan 2024 - 9:26PM

Pony Ma Huateng, founder and CEO of Tencent Holdings. Photo: AFP

Tencent chairman Pony Ma sets confident tone for internet giant in 2024

The Shenzhen-based internet giant must find new lifelines in its video gaming and social media operations, Ma told employees at the firm’s annual meeting.

29 Jan 2024 - 9:39PM

Tencent allows Douyin to air Honour of Kings videos as ByteDance exits gaming

The retreat by ByteDance from the mainstay of Tencent’s business is likely to bring the curtain down on a series of online spats and court battles between two internet giants.

15 Jan 2024 - 9:00PM

Tencent’s e-commerce drive takes off via WeChat’s short video function

Tencent has bet on swiftly building its online retail business on the back of the mainland’s vast number of WeChat users, estimated at 1.34 billion.

12 Jan 2024 - 7:30PM

WeChat short video function, Channels has become a force in Tencent Holdings’ advertising and live-streaming e-commerce operations. Photo: Shutterstock

Tencent’s Ma says 2021 WeChat photo privacy controversy was ‘misunderstanding’

The 2021 WeChat photo controversy sparked widespread privacy concerns at the time, although Ma says issue was fixed with an update.

9 Jan 2024 - 4:05PMvideocam

Ma described the WeChat issue as “a misunderstanding caused by cache acceleration of images”. Photo: Shutterstock

League of Legends ‘makes world warmer’: Chinese game makers tout ‘social values’

China’s top video game studios bragged at an industry gathering about including Chinese cultural elements and ‘patriotic spirit’ in their titles.

15 Dec 2023 - 2:00PMvideocam

Tencent set to hit e-commerce milestone in 2023, closing in on ByteDance

The Shenzhen-based tech giant is on track to sell 100 billion yuan worth of goods on WeChat Channels this year, according to Chinese media.

12 Dec 2023 - 6:00PM

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Tencent to close live-streaming service Now in latest consolidation move

Tencent, China’s biggest social media and video gaming company, is closing its live-streaming service Now, as the company continues to consolidate its video businesses.

5 Dec 2023 - 7:28PM

Signage at Tencent Holdings' booth at the Smart China Expo in Chongqing on September 4, 2023. Photo: Bloomberg

Xiaomi founder’s new fund is the largest donation ever to a Chinese university

Lei Jun donated US$183 million to Wuhan University, a leading Chinese research institution, on its 130th anniversary on Wednesday.

29 Nov 2023 - 7:00PMvideocam

Tencent takes comfort from its huge stockpile of Nvidia chips for AI initiatives

The internet giant was the first to put in orders for Nvidia’s much-coveted H800 chip, which was designed for export to China to comply with earlier US tech restrictions.

16 Nov 2023 - 7:29PM

Tencent’s third-quarter revenues up on ‘high quality’ growth in ads, games

Chinese internet giant Tencent Holdings reported a profit decline for the third quarter of 2023, still ahead of market estimates, as China’s economic recovery continued to face pressure.

15 Nov 2023 - 11:02PM

Signage at the Tencent booth at the Smart China Expo in Chongqing, China, Sept. 4, 2023. Photo: Bloomberg

China's tech billionaires

Chinese tech billionaires move up Hurun 2023 Rich List amid internet rebound

Chinese tech founders moved up in this year’s Hurun Rich List although macroeconomic headwinds in China kept overall wealth gains in check.

25 Oct 2023 - 7:30PM

Chinese tech billionaires move up Hurun 2023 Rich List amid internet rebound. Photo: AFP

Artificial intelligence

Tencent’s ChatGPT-like large language model expected this week

Tencent executive Li Qiang said the Hunyuan foundation model will be ‘formally released’ soon, with an event to be held on Thursday.

6 Sep 2023 - 10:00PM

Chinese super app WeChat gets more profitable in its competition with TikTok

WeChat’s short video service Channels brought in US$411.5 million in ad revenue in the second quarter as the app’s monthly users hit 1.327 billion.

17 Aug 2023 - 5:00PMvideocam

Tencent posts 11 per cent rise in second-quarter revenue amid China’s patchy recovery

Tencent has been looking for new growth opportunities, including joining the stampede to launch ChatGPT-like products.

18 Aug 2023 - 11:40AM

Mascots for Tencent are seen at the company’s office in Hong Kong, May 31, 2023. Photo: Yik Yeung-man

Tencent boss Pony Ma wants to develop AI tech that promotes human well-being

Tencent boss Pony Ma wants AI tech to promote human good and company has already deployed AI technologies to applications that aim to solve social issues.

15 Aug 2023 - 9:00PM

Tencent Holdings CEO Pony Ma wants to develop AI tech that promotes human well-being. Photo: Reuters

After China’s economic growth disappointed, what’s Beijing got in its toolbox?

In this edition of the Global Impact newsletter, we take the temperature of the world’s second-largest economy and looks at what can and will be done.

25 Jul 2023 - 2:00PMvideocam

Tencent’s Pony Ma hails China’s new plan to boost private economy

In an article published just hours after China unveiled an action plan to invigorate its economy, Ma pledged on behalf of the internet industry to support the government’s latest strategies.

20 Jul 2023 - 6:30PM

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