March 26 news, shares of tencent record 11, after this month, went out of the continuous decline of nearly half month, half a year to rise up in smoke. Rumors and micro letter fees and earnings growth, has played a role. Operator details on WeChat etc, more reinforced concerns.
tencent share fall stretches nearly half moon
closed yesterday afternoon, tencent shares at hk $240.8, or 1.87%. Intraday tencent’s share price fell to hk $239.4. This is tencent on Wednesday (March 20) published after 2012 in the fourth quarter and full-year earnings, tencent’s share price fell for the third straight day. And when in early September last year, tencent has maintained over hk $240.
actual situation more than that, on March 11, tencent shares are at new highs of hk $285, after 11 days so far present continuous share price decline, the total drop of about 15%.
it is obvious that tencent released new results on stock prices decline seems to be some “fuel”. According to the results, tencent’s revenue rose 5.1% in the fourth quarter last year. From 2010 to date, revenue from growth in the fourth quarter of tencent remained in this level, why the stock price will drop on the results of tencent?
tencent the source of income is divided into five categories: Internet value-added services, mobile and telecom value-added services, online advertising, e-commerce trading business and other business. The electronic commerce is in the first quarter of last year to a single project.
in the fourth quarter of last year, tencent’s Internet value-added service income rose 1%, mobile and telecom value-added services revenue fell 1.3%, online advertising revenue fell 6.7%, the electronic commerce income rose 48%, other income rose 33% (a low base). Obviously, tencent first three traditional business income is hard to say.
if the removal of electrical business, tencent income rose just 0.36% in the fourth quarter.
no matter how tencent dimension, slowing growth will have a significant impact on share price, because the rising prices of imaginary space will be squeezed significantly. In particular, tencent will rapidly growing source of income, seems to be more dependent on the trend of electronic commerce, and it is difficult to bring this part of the business profits, which will further affect the tencent’s margins.
micro letter again trapped carriers charge suspicion
results is not the only “bad” news. Tencent’s biggest imagination is undoubtedly is WeChat today. Both tencent migration to the mobile Internet platform, and global business expansion, WeChat were regarded as the most promising bearing.
however, under the eyes of the micro letter has been too easy. After winning in many similar software, just from asynchronous voice communications to upgrade to the real-time voice dialogue function WeChat, has been inevitable increasing entanglements between tencent and operators. The conflict between the operators and OTT service provider, and not only in China.
OTT (Over The Top), refers to Internet companies across The operators, The development on The basis of open Internet video and data services. OTT business operators to produce further to mere “pipe” sense of crisis. Last November, the three operators to OTT business public discontent, the outside world guess also gradually increasing.
, sina tech reported starting in February this year, Beijing unicom has them in traffic, such as micro letter, mobile phone QQ, chat OTT class application traffic situation marked separately. The distinction between the way, also be regarded as operators tightening of the signal or warning. But there is no other operators use a similar manner.
the personage inside course of study, according to the operators on the OTT charges including the idea of several ways: one is according to the user fees, and can’t rent charge bandwidth in general; 2 it is no longer provide unlimited traffic package costs; Three low set meal is not to provide OTT business users. South Korea had already allows operators to OTT service charges, and even the “block”.
according to speculation, ma only publicly denied WeChat will be charged to the user. While citigroup has pointed out in previous reports, operators of pressure may accelerate WeChat commercialization. Results analysts on a conference call last week, Mr Lau said tencent President WeChat will be the first to begin commercial exploration in the field of the game. (Meng Hong)