Tencent’s messaging app, WeChat, recorded 1 billion monthly active users earlier this year—a sign of how indispensable it has become in connecting friends, linking consumers with businesses, and facilitating China’s $12 trillion in annual mobile payments. Still, Tencent’s core revenue stream is gaming, which accounts for up to two-thirds of the company’s income. As Chinese government regulations have restricted that industry, Tencent has begun pivoting: In a recent restructuring, it has shifted its focus toward the industrial Internet.