Ma Huateng responds to Tencent's (00700) 10 billion cash giveaway for the Yuanbao Spring Festival event: Hoping to recreate the glory of the past WeChat red envelope craze.

On January 25th, Tencent (00700) official account announced that in order to give back to the users, they will be launching a Chinese New Year event on February 1st, distributing 1 billion cash red envelopes, with individual red envelopes reaching up to a maximum of ten thousand yuan. Sources from Tencent revealed that the red envelope amounts can be directly withdrawn to WeChat from the "" platform. Tencent Chairman Ma Huateng responded at the Tencent annual meeting held today that he hopes to recreate the popularity of WeChat red envelopes from previous years. He also mentioned that "" aims to be a social product called "," and expressed that this was originally a top secret project. Internal sources from Tencent also disclosed that "" will soon launch a new gameplay, and have started internal testing invitations. An official product interface diagram released by Tencent has added a new tab called "." It is reported that during the 2015 Spring Festival Gala, Tencent distributed 500 million yuan in cash red envelopes through WeChat Shake, with 20 million participating users on New Year's Eve, totaling over 1 billion red envelopes exchanged, and peaked at 8.1 billion interactions per minute, successfully binding hundreds of millions of users to their ecosystem, significantly enhancing the influence of WeChat Pay. Ten years later, Tencent once again issued a huge amount of cash red envelopes to promote their AI applications through the super social scene of the Chinese New Year.