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)
|
