A quick respond (QR) code for Tencent Holdings Ltd.'s WeChat Pay service is displayed at a mutton stall in a market in Golmud, Qinghai province, China, on Sunday, July 22, 2018. Amid rising fears about a trade war, China's policy makers have unveiled measures to boost infrastructure construction and credit to smaller firms, as well as tax cuts. Photographer: Qilai Shen/Bloomberg via Getty ImagesQilai Shen—Bloomberg/Getty Images
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 $12 trillion in annual mobile payments. Still, Tencent’s core revenue stream is gaming, which accounts for up to two-thirds of the company’s income. As Chinese government regulations have restricted that industry, Tencent has begun pivoting: In a recent restructuring, it has shifted its focus toward the industrial Internet.
|Industry||Internet Software and Services|
|HQ Location||Shenzhen, China|
|Revenues ($M) (Past 12 Months)||$42,888|
|Profits ($M) (Past 12 Months)||$12,300|
|Market Value as of Oct. 10, 2018 ($M)||$345,570|