Tencent (00700) latest internal staff meeting speech! Ma Huateng: Full confidence in the resilience of the Chinese economy.

On the afternoon of January 13th, Tencent (00700) held its annual employee conference for the year 2024. During his internal speech, Ma Huateng first reviewed the overall environment of 2024 and expressed confidence in the resilience of the Chinese economy. He believed in the perseverance and entrepreneurial spirit of Chinese enterprises and entrepreneurs. He stated that Tencent had already experienced a rebound in the past two years, and emphasized the importance of unity and cooperation in facing challenges together. He believed that there are always more solutions than problems, and that with talent, technology, and market demand, the future is bright. Ma Huateng then evaluated the performance of the various business groups within the company. Regarding IEG (Interactive Entertainment Group), he noted that they had done exceptionally well this year, with progress in both domestic and international businesses. He also mentioned that Tencent's overseas gaming business has almost reached half of its domestic gaming business and looks forward to further development in the future. For WXG (WeChat Business Group), Ma Huateng reviewed the exploration and thinking behind Video Accounts in the WeChat ecosystem over the past year, particularly in breaking away from the conventional thinking of "Live E-commerce" in order to seek breakthroughs. He mentioned that Zhang Xiaolong believed that products are information and should not be limited to Video Accounts, but should be integrated into the entire WeChat ecosystem. Tencent fully supports WXG in this innovative development, leveraging social capabilities as a connector for e-commerce, and looks forward to more "blue packets" and new ideas in the future. Despite the pressure faced by the PCG (Platform and Content Business Group) at the previous year's employee conference, this year they were also recognized. Companies including TME (Tencent Music Group), Yuewen, Huya, and Tencent News have all "surfaced". Despite the impact of short content on long content, the company remains firm in its positioning: "Focus on quality content is our strength." CSIG (Cloud and Wise Industry Business Group), responsible for Tencent's industrial Internet layout, is known for its large investments, infrastructure, and long return cycles. Ma Huateng used the metaphor of "surfacing" to encourage them, stating that CSIG supports the development of the entire company group, especially the cloud business providing important support to many businesses within the Tencent ecosystem, being a solid foundation underwater. "In 2025, I believe they have a great opportunity to stably surface and form a continent." Regarding advertising and financial payment businesses, Ma Huateng stated that advertising can be seen as content to attract user interest, and he sees the future potential of AI in advertising. He also emphasized Tencent's steady and long-term approach to financial business, actively managing risks. TEG (Technology Engineering Business Group), responsible for Tencent's long-term basic technology construction, is also tasked with the development of mixed-element large models. Ma Huateng mentioned that Tencent will continue to invest resources in computing power reserves, hoping that each BG will embrace the productization of large models. Currently, products such as WeChat, QQ, input methods, browsers, and more will introduce AI intelligent bodies. Games, WeChat Reading, Tencent Video, and other products will also explore more AI based on mixed elements. Finally, in his speech, following Tencent's "Debug Spirit" proposition during the Tencent Anniversary celebration in November, Ma Huateng once again emphasized the need for management to enhance their capabilities. He said, "In 2025, I hope everyone will see more space and develop more abilities. I believe it will be a fruitful year."