Tencent Holdings Limited

Tencent Holdings Limited 1/0-,.*+

Incorporated in the Cayman Islands with limited liability Lc\hXa?FBNGTi : 700

}||~ E_

*//4,. +-1023

CONTENTS

Corporate Information Financial Summary Chairman's Statement Management Discussion and Analysis Directors' Report Corporate Governance Report Independent Auditor's Report Consolidated Balance Sheet Balance Sheet Consolidated Income Statement Consolidated Statement of Changes

in Shareholders' Equity Consolidated Cash Flow Statement Notes to the Consolidated Financial Statements

Page

2 3 4 9 20 39 49 51 53 54

55 56 58

CORPORATE INFORMATION

DIRECTORS

HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS

Executive Directors Ma Huateng (Chairman) Lau Chi Ping Martin Zhang Zhidong

Non-Executive Directors Antonie Andries Roux Charles St Leger Searle

Independent Non-Executive Directors Li Dong Sheng Iain Ferguson Bruce Ian Charles Stone

AUDIT COMMITTEE

Iain Ferguson Bruce (Chairman) Ian Charles Stone Charles St Leger Searle

5th to 10th Floors FIYTA Hi-tech Building Gaoxinnanyi Avenue Southern District of Hi-tech Park Shenzhen, 518057 The PRC

PRINCIPAL PLACE OF BUSINESS IN HONG KONG

Room 3002, 30th Floor Far East Finance Centre 16 Harcourt Road Hong Kong

CAYMAN ISLANDS PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE

Butterfield Fulcrum Group (Cayman) Limited Butterfield House 68 Fort Street, P.O. Box 609 Grand Cayman KY1-1107, Cayman Islands

REMUNERATION COMMITTEE

Antonie Andries Roux (Chairman) Li Dong Sheng Ian Charles Stone

AUDITORS

HONG KONG BRANCH SHARE REGISTRAR AND TRANSFER OFFICE

Computershare Hong Kong Investor Services Limited Shops 1712-1716, 17th Floor, Hopewell Centre 183 Queen's Road East Wan Chai, Hong Kong

PricewaterhouseCoopers Certified Public Accountants

WEBSITE

PRINCIPAL BANKER



The Hongkong and Shanghai Banking Corporation Limited

STOCK CODE

700

REGISTERED OFFICE

Cricket Square Hutchins Drive, P.O. Box 2681 Grand Cayman KY 1-1111 Cayman Islands

2 Tencent Holdings Limited

Annual Report 2008

FINANCIAL SUMMARY

CONDENSED CONSOLIDATED INCOME STATEMENTS

2004 RMB'000 (Restated)

Year ended 31 December

2005

2006

2007

RMB'000

RMB'000

RMB'000

Revenues

1,143,533

1,426,395

2,800,441

3,820,923

Gross profit

725,408

956,526 1,983,379 2,703,366

Profit before income tax

463,653

437,055 1,116,771 1,534,503

Profit for the year

441,119

485,362 1,063,800 1,568,008

2008 RMB'000

7,154,544 4,984,123 3,104,895 2,815,650

Profit attributable to equity holders of the Company

441,119

485,362 1,063,800 1,566,020 2,784,577

CONDENSED CONSOLIDATED BALANCE SHEETS

2004 RMB'000

Assets Non-current assets Current assets

Total assets

Equity and liabilities Equity attributable to the Company's

equity holders Minority interests in equity

Total equity

Non-current liabilities Current liabilities

Total liabilities

Total equity and liabilities

309,454 2,553,867 2,863,321

2,652,238 ?

2,652,238 ?

211,083 211,083 2,863,321

As at 31 December

2005

2006

RMB'000

RMB'000

2007 RMB'000 (Restated)

763,495 2,663,627

3,427,122

916,138 3,734,434

4,650,572

2,090,312 4,835,132

6,925,444

2,928,413 ?

2,928,413

810 497,899 498,709 3,427,122

3,717,756 ?

3,717,756

64,969 867,847 932,816 4,650,572

5,170,396 64,661

5,235,057

40,770 1,649,617 1,690,387 6,925,444

2008 RMB'000

3,359,696 6,495,861 9,855,557

7,020,926 98,406

7,119,332 644,628

2,091,597 2,736,225 9,855,557

Tencent Holdings Limited 3

Annual Report 2008

CHAIRMAN'S STATEMENT

Ma Huateng Chairman I am pleased to present our annual report for the year ended 31 December 2008 to the shareholders. RESULTS Total revenues for the year ended 31 December 2008 increased by 87.2% to RMB7,154.5 million, compared with the same period last year. Revenues from our Internet value-added services increased by 95.5% to RMB 4,915.0 million. Revenues from our mobile and telecommunications value-added services increased by 73.2% to RMB1,399.0 million and revenues from online advertising increased by 67.5% to RMB826.0 million. The Group's audited profit attributable to equity holders of the Company for the year ended 31 December 2008 was RMB2,784.6 million, an increase of 77.8% compared with the results for the year ended 31 December 2007. Basic and diluted earnings per share for the year ended 31 December 2008 were RMB1.552 and RMB1.514 respectively.

4 Tencent Holdings Limited

Annual Report 2008

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download