GT Online: Ma Huateng: Tencent is Just an Ordinary Company

Translated by: Ermat

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Ma Huateng’s speech at the 2021 staff meeting was recently exposed by the media and caused much discussion.

At the staff meeting at the end of last year, Ma Huateng expressed his thoughts on a series of changes that will take place in 2021. He said Tencent is just an ordinary company during the development of the national society. It is a beneficiary of the wave of national development and is not some basic service that can be replaced at any time. In the future, when Tencent serves the country and society, it should not be absent,and be a good assistant and connector.

Hong Kong stocks experienced a dismal year in 2021. Tencent even spent huge sums on buybacks, with a cumulative buyback cost of HK$814 million from January 5 to January 10. On the evening of the 11th, Tencent announced a buyback of 440,000 shares at a price range of HK$452.2 – HK$461.8, costing about HK$202 million.

In 2021, against the backdrop of a regulatory storm, China’s 10 richest tech moguls saw their combined net worth evaporate by $80 billion, with Tencent at $10.1 billion.

In 2021 Tencent underwent a massive organizational restructuring and was asked to give up exclusive music rights. For the first time in 8 years, Tencent opened up WeChat external jump links. The issuance of license numbers for games was suspended due to increasingly strict underage protection. Tencent almost emptied its holdings in Jingdong, which had been its most significant foreign investment.

Tencent is currently China’s largest Internet company by market capitalization. Of course it has more challenges to face. As its market value continues to fall, Tencent has fallen out of the top 10 Internet companies in the world. In the past, Tencent led in many areas by relying on its political and business ties, investment ecosystem and the vast amount of copyrights it held. But now those days are gone. Maybe it will really become an ordinary company.



Disclaimer: This article only represents the author’s view. Gnews is not responsible for any legal risks.

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