Morningstar | Tencent Company Report
We think Tencent has put more focus on cloud and advertising businesses following its reorganization. The cloud and smart industries group has been created as a stand-alone segment for the cloud business and enterprise-facing services such as smart retail. The advertising and sales department and the social and performance advertising department were merged to form the advertising and marketing services business under the corporate and development group. This business can provide advertisers with integrated advertising solutions and more unified insights into users across Tencent’s social and media products. The platform and content group is a new group to connect traffic from platforms such as QQ and YingYongBao to content services such as Tencent news and video. Tencent is transforming from consumer Internet to industrial Internet. CEO Pony Ma believes the future of the Internet is using artificial intelligence to process Big Data in the cloud, allowing industries to aggregate and unlock value in their data. Tencent aims to help industries to connect to consumers through its platforms such as WeChat, which has over 1 billion users. Miniprograms, official accounts, and Weixin Pay can facilitate communications between consumers and industries and transactions. For example, in the smart healthcare vertical, patients can find the right medical professionals, register for appointments, conduct video appointments with specialists through WeChat, and settle medical fees using WeChat Pay. Tencent can provide AI diagnostic capabilities, for example, helping doctors in screening and diagnosing polyps. Tencent’s cloud, security, and AI capabilities can help hospitals manage their businesses more efficiently. Tencent has a strong position in social networking and entertainment (such as gaming, online video, and online music) and is advancing into finance, government, smart retail, and industrial verticals. This transformation will take time, particularly since Tencent has been more of a consumer-facing company in the past.
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