tencent holdings ltd-uns adr (TCEHY) Key Developments
Spotify Reportedly Mulls IPO
Jul 7 14
Spotify AB reportedly intends to pursue initial public offering (IPO) in 2015. The company has hired financial advisers to prepare for its market debut, sources told FOCUS. Although the details remain unclear the rumors come amid reports that Spotify is an acquisition target for Tencent Holdings Ltd. (SEHK:700).
Tencent and 58.com Agrees to Use Each Other as the Preferred Partner in Local Services
Jun 30 14
Tencent and 58.com have agreed to use each other as the preferred partner in local services. Both companies will jointly build out next generation online-to-offline services leveraging the combined strengths of their respective platforms. 58.com will solidify its position in local services by capturing traffic from Tencent’s various online properties such as QQ, Weixin, QQ.com, and QQ browser. Integrating 58.com’s services into these properties will further expand 58.com’s user base, improve the user experience by allowing users to access social tools to find recommended merchants, and help users improve the level of communication between each other and with merchants. For Tencent, the investment further strengthens its expanding O2O eCommerce ecosystem in China, which also includes Dianping, Didi Dache, JD.com, Leju. Its large social user base will benefit from the broadening local services offering, select quality vendors or merchants leveraging social sharing online and enjoy an enhanced O2O user experience. Tencent will help small and mid-sized enterprises and other merchants communicate with consumers via Weixin Official Accounts system or Enterprise QQ system, and complete transactions using Tencent’s online payment solutions. Merchants will benefit from better customer relationship management and improved consumer targeting via location-based functions.
China South City Holdings Limited Signs Strategic Cooperation Memorandum in E-Commerce with Tencent
Jun 25 14
China South City Holdings Limited announced that subsequent to the investment and cooperation agreement between the company and Tencent, a cooperation memorandum was signed between the company and Tencent on 24 June 2014 to further elaborate the strategic cooperation in E-commerce business and the development of an integrated O2O business eco-system. Tencent and China South City will leverage their strategic resources to carry out full and in-depth cooperation in various areas, including E-commerce platform, network resources and development of an integrated O2O business eco-system. Tencent will provide the necessary technical support and preferential commercial terms to China South City. Base on the principle of mutual benefit and to leverage the parties' strategic resources, the parties will continue to extend the areas of cooperation
for the development of an integrated O2O business eco-system in China.
Tencent Announces Audited Earnings Results for the Year Ended March 31, 2014
Jun 23 14
Tencent announced audited earnings results for the year ended March 31, 2014. For the year, the company reported revenue of ZAR 34,256 million against ZAR 20,532 million a year ago. EBITDA was ZAR 12,232 million against ZAR 8,603 million a year ago. Trading profit was ZAR 10,792 million against ZAR 7,702 million a year ago. Contribution to core headline earnings were ZAR 9,724 million against ZAR 6,652 million a year ago.
Insiders Say Tencent May Acquire Stake In SMI Culture
Jun 11 14
Tencent Holdings Ltd. (SEHK:700)may acquire SMI Culture Group Holdings Limited (SEHK:2366) stake. Tencent’s insiders disclosed that Tencent Industry Investment Fund will acquire SMI Culture, jointly held by Qin Hui, Chan Kwok Keung, and Albert Yeung Sau Shing. Because of the report, SMI Culture’s share price soared around 20% at $0.8.