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Tencent's financial report for the first quarter of 2024 is released: revenue grew steadily and net profit increased significantly

author:Puhua Research Institute of China Research Institute

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Tencent's financial report for the first quarter of 2024 is released: revenue grew steadily and net profit increased significantly

China Research Network

Tencent Holdings' financial report for the first quarter of 2024 was released: revenue grew steadily and net profit increased significantly

In the fierce competition in the technology industry, Tencent Holdings has always maintained its leading position. On May 14, Tencent Holdings announced its financial report for the first quarter of 2024, which showed that the company's total revenue in the first quarter of this year reached 159.501 billion yuan, an increase of 6% year-on-year, which is a steady growth performance and reflects Tencent's continuous development in various business areas.

More strikingly, Tencent Holdings achieved a gross profit of 83.87 billion yuan in the quarter, a year-on-year increase of 23%. This growth far outpaced the growth rate of total revenue, demonstrating Tencent's significant improvement in cost control and operational efficiency. At the same time, the net profit also reached 50.265 billion yuan, a year-on-year increase of 54%, which is a new high in recent years.

Tencent Holdings' financial report has undoubtedly brought great confidence to investors and the market. In the increasingly competitive technology industry, Tencent's ability to maintain such steady growth is inseparable from its deep accumulation and innovation strength in various business areas.

In terms of specific businesses, Tencent has outstanding performance in the fields of games, social networking, and advertising. Especially in the field of games, Tencent has launched a number of popular game products with its strong R&D and operational capabilities, such as "Honor of Kings" and "Peace Elite". These games have not only brought Tencent a huge amount of revenue, but also accumulated a large number of user reputation and market share for the company.

In addition, Tencent also maintains a leading position in the social field. WeChat and QQ, as Tencent's two major social products, have always maintained high activity and user stickiness. At the same time, Tencent is also constantly exploring new social models, such as WeChat mini-programs and official accounts, to provide users with a more convenient and rich social experience.

In terms of advertising business, Tencent has also achieved good results. With the rapid development of WeChat Channels and the continuous upgrading of products such as mini programs and official accounts, Tencent's advertising business has also achieved rapid growth. Especially in industries such as games, Internet services and consumer goods, Tencent's advertising business has performed well.

In addition to the above businesses, Tencent also has a good performance in the field of financial technology and enterprise services. With the continuous development of cloud computing, big data and other technologies, Tencent is also actively deploying in this field and has launched a number of well-received products and services.

It is worth mentioning that Tencent also announced plans to increase buybacks in its financial report. The plan aims to increase shareholder value and demonstrates Tencent's confidence in its future development.

Overall, Tencent Holdings' financial performance in the first quarter of 2024 was solid and bright. The company has excellent performance in various business areas, and is also actively planning for the future and exploring new growth points. For investors, Tencent is undoubtedly a company worth paying attention to for a long time.

According to the analysis of the China Research Industry Research Institute:

From the perspective of market supply, with the implementation of the new regulations on online animation in 2019, the number of online online animation reviews in mainland China has shown a "rapid increase" trend. In 2019, the number of animations in mainland China that obtained online record numbers was 38, 112 in 2020, a year-on-year increase of 194.74%, and 199 in 2021, a year-on-year increase of 77.68%; In 2022, it will be 222, a year-on-year increase of 11.56%, and a compound growth rate of 80.10% over the past four years.

According to the announcement of the State Administration of Radio, Film and Television, in 2019 and 2020, the number of online animations that passed the planning and filing was 250 and 243. Combined with the obvious slowdown in growth in 2022, the overall production capacity of the industry is about 250 units, and in recent years, perhaps due to the development of the industry, the production capacity has increased, but the magnitude may be small.

In recent years, ACG IP has become popular in the Chinese market. The original core audience of ACG culture in China is the post-80s and 90s ethnic groups that have grown up with the spread of Japanese and American comics in China, and Generation Z, as an "Internet native", has a higher acceptance and love for ACG culture. According to the White Paper on China's ACG Content Industry, the number of pan-ACG users in mainland China has reached nearly 460 million in 2021, with an average annual compound growth rate of 10.4% in the past five years. It can be seen that ACG culture has gradually separated from niche culture and entered the public eye, and the user group is expected to continue to expand in the future. The two-dimensional population is growing rapidly, and the Chinese market is expected to reach 100 billion yuan in 2026.

The online animation industry has developed rapidly in recent years, and its prospects have attracted much attention. Here are a few key aspects of the development of the online animation industry:

Market growth: The size of China's animation industry has grown from 88.2 billion yuan in 2013 to 221.2 billion yuan in 2020 and 252.5 billion yuan in 2023. Among them, online animation, as an important part, is also increasing its proportion and influence.

Changes in user structure: In terms of user structure, users under the age of 25 account for 6 percent, and first-tier and second-tier cities account for more than 38.8%, while third-tier cities have increased significantly, increasing by 20.3% compared with 2019. This shows that online anime is gradually infiltrating a wider user base.

Consumption trends: The consumption of animation content has become an important part of users' social currency, and it is one of the foundations for users to attract like-minded people and maintain social circles. More and more users are willing to express their support for the work by purchasing related products of the work, and the sales of peripheral products have become an important part of animation IP.

Internationalization: Animation has become an art form with global influence, and more international works will emerge in the future, and more international cooperation projects will also emerge. This will help enhance the international influence of Chinese online animation and promote cultural exchanges and dissemination.

Technological innovation: With the continuous development of technology, online animation will use more advanced technical means, such as virtual reality (VR) and augmented reality (AR), so that the audience can feel the animation works more immersively. At the same time, online animation will also pay more attention to technological innovation to create a more immersive and interactive viewing experience.

Content innovation: The themes of online animation works will be more diversified, no longer limited to the traditional Japanese manga style, but also cover more themes and genres to meet the needs of different audiences. The creative themes will also involve more social hotspots and current topics, and explore more diverse themes and styles.

Business model innovation: The IP value of animation works is gradually becoming prominent, and derivative products and commercialization will become an important direction for the development of animation. At the same time, with the continuous development and growth of the online animation industry, cross-border cooperation with other industries will become more frequent, such as cooperation with games, music, movies and other fields to jointly launch cross-media IP.

In general, the online animation industry is ushering in a new round of development opportunities. With the continuous growth of market demand, continuous innovation of technology and continuous exploration of business models, the online animation industry is expected to continue to maintain a rapid growth trend in the future.

The future development trend of the online animation industry is expected to show the following directions:

Internationalization and diversification: Animation has become an art form with global influence, and in the future, more international works will emerge in the online animation industry, and more international cooperation projects will appear. At the same time, the animation market will be more diversified to meet the needs of audiences of different ages, interests and cultural backgrounds, and content creation will also cover a wider range of themes and styles.

Technological innovation: With the continuous development of science and technology, online animation will use more advanced technical means, such as virtual reality (VR) and augmented reality (AR), to create a more immersive and interactive viewing experience for audiences. These technologies will enhance the attractiveness and dissemination of anime works.

Cross-media integration: Animation will gradually be combined with other media forms, such as games, movies, novels, etc., to form a development and promotion model of multimedia IP. This cross-media convergence will expand the influence of anime works and promote complementary and synergistic development between different media.

Derivative products and commercialization: The IP value of animation works will gradually become prominent, and derivative products and commercialization will become an important direction for the development of animation. With the continuous expansion of the animation market, related industries such as peripheral products, games, and theme parks will also develop rapidly.

Interaction and Participation: In the future, webani will focus more on interaction and engagement with the audience. Viewers can participate in the creation and development of the anime through barrage comments, voting decisions, etc., and this interaction will enhance the audience's sense of participation and loyalty.

Driven by social media and mobile Internet: With the development of mobile Internet and social media, the acquisition and dissemination of animation content will become more convenient and diversified. Online animation works can be promoted and interacted with through various social media platforms to attract more audience attention and participation.

In general, the future development trend of the online animation industry will be characterized by internationalization, diversification, technological innovation, cross-media integration, commercialization of derivative products, and interaction and participation. Together, these trends will promote the sustainable development of the online animation industry, bringing richer and more exciting animation works and experiences to audiences.

The expansion of the scale and quality improvement of the online animation industry have also laid the foundation for the development of high-quality animation IP,Relying on the financial advantages and industrial layout of the animation platform,In recent years, the online animation IP development industry chain has gradually matured,In addition to film and television dramas、Books、Blind boxes and other peripheral development,The popular GuomanIPThe extension to game development may become a next outlet。

The report analyzes the internal and external environment, industry development status, industrial chain development status, market supply and demand, competition pattern, benchmarking enterprises, development trends, opportunities and risks, development strategies and investment suggestions of China's online animation industry, and focuses on the opportunities and challenges that the mainland online animation industry will face.

If you want to know more about the detailed analysis of the online animation industry, you can click to view the research report of China Research Institute Puhua

Pay attention to the headline number "China Research Institute of Puhua Research Institute", reply to "free report" by private message, you can get a free report, come and get it quickly!