Saturday, December 14, 2019
Martin Hennecke

Tencent's Literature profits fall
<p>China Literature (0772), the e-book arm of tech giant Tencent (0700), reported its first-half net profit fell by 22.36 percent to 392.72 million yuan (HK$436.56 million) and did not declare an interim dividend.</p><p>Its revenue rose 30.14 percent year-on-year to 2.97 billion yuan for the first half. But online business, the key revenue driver, recorded an 11.53 percent decline in revenue to 1.66 billion, accounting 56 percent of total revenue.</p><p>In addition, monthly average revenue per paying user (ARPU) decreased by 7.79 percent year-on-year to 22.5 yuan in the first half, primarily due to the continued ARPU decline from its self-operated channels on Tencent products.</p><p>Average monthly active users on its self-owned platform products and self-operated channels climbed 1.7 percent to 217.1, but average monthly paying users fell 9.3 percent to 9.7 million.</p><p>Meanwhile, investment houses expect an about 15 percent growth in Tencent&#39;s second-quarter Non-GAAP net profit, and a 23.4 percent increase in revenue, helped by new battle royale game PUBG Mobile. Tencent will release the first-half result tomorrow.</p><p>Shares of China Literature was up 3 percent to HK$29.2 while Tencent grew 0.47 percent to HK$340 yesterday.</p><p>Elsewhere, camera modules manufacturer Q Technology (1478) reported its first-half net profit amounted to 180.83 million yuan, turning around from a loss of 51.29 million yuan one year ago, but did not declare an interim dividend.</p><p>Chairman He Ningning expected performance to be further improved in the second half and raised its full-year growth target of camera modules sales from 30 percent to 50 percent.</p><p>Shares of Q Technology rose 7.93 percent to HK$7.35.</p>

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