Tencent Holdings Limited - TCEHY stock
Tencent (OTC: TCTZF, OTC: TCEHY) is a global internet and technology leader that creates innovative goods and services to better people's lives all over the world, is is based in Shenzhen, China, and was formed in 1998. Its guiding idea is to use technology for development. More than one billion people across the world rely on their communication and social services to stay in touch with friends and family, get about, pay for necessities, and even be entertained. Tencent also produces some of the most popular video games and other high-quality digital materials in the world, improving people's interactive entertainment experiences all around the world. Furthermore, Tencent provides a variety of services to help their clients with their digital transformation, including cloud computing, advertising, FinTech, and other enterprise services.[1]
Tencent proposed merging Huya Inc. and DouYu International Holdings Ltd., two of China's largest Twitch-like sites, in 2020, but the country's antitrust authorities rejected the transaction in July after Beijing increased its monitoring of big tech. Tencent has created a new team at its Penguin Esports streaming app devoted to product design and management while disbanding a department that was primarily responsible for liaising with Huya and DouYu.[2]
Ma Huateng, 49, is an executive officer, Chairman of the Board, and the Company's Chief Executive Director. Mr. Ma is in charge of the Group's overall strategic planning, positioning, and management. Mr. Ma is a founding member of the company and has worked for the company since 1999. Mr. Ma previously worked at China Motion Telecom Development Limited, a telecommunications services and product provider in China, where he was in control of research and innovation for Internet paging system development. Mr. Ma is a member of the 13th National People's Congress as a delegate. Mr. Ma also has a Bachelor of Science degree in Computer and its Applications from Shenzhen University, as well as over 27 years of experience in the industry. He is a board member of Advance Data Limited”, which has a stake in the Company's shares that would be required to be reported to the Company under the Securities and Futures Ordinance's Divisions 2 and 3. Mr. Ma also sits on the board of directors of the Company's subsidiaries.[3]
Social networking sites, entertainment, networking sites, smartphone applications, digital operations, cash platforms, cellphones, and multiplayer services are among the company's services. Tencent QQ, Wechat, and QQ.com are its instant messengers. Tencent Music is also owned by Tencent.
In 2018, Tencent submitted a number of 3,178 patent classes, the highest so far, as the records from 2019-2021 have not been confirmed and finalized yet. In addition, the firm exceeded a valuation of $500 billion, becoming the first Asian tech giant to do so. It has since risen to become China's most valued publicly listed firm and one of the world's top technological corporations in terms of market capitalization.[4]
The Boston Consulting Group and Fast Company named the company among the 50 most creative organizations in the world in 2015, 2018, and 2020. Tencent owns investments in over 600 firms and began focusing on Internet start-ups in Asia in 2017. Tencent's investing strategy, according to Techcrunch, is to allow its portfolio startups to run independently. Tencent's stock price dropped in January 2021, with a market capitalization reaching $1 trillion.
OTC Symbol: TCEHY | OTC Tier: Pink Current
