Tencent (TCEHY) Q4 2022 Earnings Call Transcript

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Wendy Huang

Good day and good evening. Thank you for standing by. Welcome to Tencent Holdings Limited 2022 Fourth Quarter and Annual Results Announcement Webinar. I'm Wendy Huang from Tencent IR team. At this time, all participants are in a listen-only mode. After management's presentation, there will be a question-and-answer session. [Operator Instructions] And please be advised that today's webinar is being recorded.

Before we start the presentation, we would like to remind you that it includes forward-looking statements, which are underlined by a number of risks and uncertainties and may not be realized in the future for various reasons. Information about general market conditions is coming from a variety of sources outside of Tencent.

This presentation also contains some unaudited non-IFRS financial measures that should be considered in addition to, but not as a substitute for, measures of the group's financial performance held in accordance with IFRS. For a detailed discussion of risk factors and non-IFRS measures, please refer to our disclosure documents on the IR section of our website.

Now let me introduce the management team on the webinar tonight. Our Chairman and CEO, Pony Ma, will kick off with a short overview; President, Martin Lau, will discuss strategy review; Chief Strategy Officer, James Mitchell, will provide a business review; Chief Financial Officer, John Lo, will conclude with financial discussion before we open the floor for questions.

I will now pass it to Pony.

Pony Ma

Great. Thank you, Wendy. Good evening. Thanks to everyone for joining us. During 2022, we increased our business efficiency, sharpening our focus on core activities and developed new services and revenue lines, positioning us for a sustainable growth model in the future.

A few notable achievements. In Weixin, Video Accounts became a leading shop from video and live streaming platform in China, while mini programs achieved strong growth in both DAU and GMV, contributing to the real economics for games domestically which significantly reduced minors' time spent while sustaining our market leadership.

Internationally, we elevate VALORANT as a top global franchise and published two out of the top three new mobile games of the year. In advertising, we returned to positive revenue growth in the fourth quarter. Through the launch of Video Account in-feed ads, enhanced the transaction-driven capability of our ad inventories and improve our machine learning infrastructure.