Tencent 0700.HK

Public, HKG, reports in CNY. Founded 1998.
Theme: Internet. Consumer apps, games.

2025-08-01 — Mature consumer

Financials millions, CNY

Period	Revenue	Growth %	Gross margin %	R&D %	Operating income	Operating margin %	Net income	EPS (diluted)	Rule of 40	basis
2025	751.8bn CNY	–	56.2 %	–	241.6bn CNY	32.1 %	224.8bn CNY	24.15	–	IFRS
2024	89.4bn USD	5.1 %	50.9 %	–	28.5bn USD	31.9 %	26.6bn USD	–	37.0
2023	85.0bn USD	7.2 %	–	10.2 %	6.8bn USD	8.0 %	–	–	15.2
2022	79.4bn USD	–	–	–	–	–	–	–	–
2026-Q2	204.8bn CNY	11.0 %	57.8 %	–	68.2bn CNY	33.3 %	56.0bn CNY	6.10	44.3
2025-Q2	184.5bn CNY	–	56.9 %	–	64.9bn CNY	35.2 %	55.6bn CNY	6.00	–

Sources

2025: https://static.www.tencent.com/uploads/2026/03/18/e6a646796d0d869acc76271c9ee1a6a5.pdf — Tencent 751.766 CNY 6.9931 #NAME? Tencent Holdings, 2025 Annual Results (FY2025 revenue RMB751,766m): | Tencent 241.6 CNY IFRS operating profit FY2025 operating profit RMB241.6bn, up 16%, margin stable at 32% (reported IFRS basis; non-IFRS was RMB280.7bn):
2024: 2025_10-K_Summary_2026-07-10.xlsx — sheet value USD-converted; re-enter in reporting currency for growth
2023: 2025_10-K_Summary_2026-07-10.xlsx — sheet value USD-converted; re-enter in reporting currency for growth
2022: 2025_10-K_Summary_2026-07-10.xlsx — sheet value USD-converted; re-enter in reporting currency for growth
2026-Q2: yfinance
2025-Q2: yfinance

Period	Cash from operations	Capex	Free cash flow	FCF margin %	CFO / net income %	NOPAT	Unlevered FCF	Levered FCF	Net change in cash
2025	303.1bn CNY	112.9bn CNY	190.2bn CNY	25.3 %	134.8 %	200.3bn CNY	169.9bn CNY	242.9bn CNY	10.2bn CNY

NOPAT = op. income × (1 − effective tax rate); UFCF = NOPAT + D&A + ΔNWC − capex; LFCF = FCF + net debt issued.