On March 18, after the closing of the Hong Kong stock market, Tencent released the 2019 Fourth Quarterly and full-year performance reports .

Overall, this is a dazzling transcript.

In the fourth quarter of 2019, Tencent’s revenue was 105.767 billion yuan, an increase of 25% year-on-year, and its net profit was 25.484 billion yuan, an increase of 29% year-on-year, which was higher than market expectations. In the past fourth quarter, Tencent’s single quarter revenue exceeded the 100 billion yuan mark for the first time, refreshing Tencent’s own historical record.

For the full year of 2019, Tencent’s revenue was 37.289 billion yuan, a year-on-year increase of 21%, and net profit was 94.351 billion yuan, a year-on-year increase of 22%, which was also higher than market expectations.

WeChat is still growing, and user activity has further improved

As the “traffic manager” of Tencent, WeChat’s performance in the past year is a topic that will be the focus of attention.

As of December 31, 2019, the combined monthly active accounts of WeChat and WeChat reached 1.164 billion, a year-on-year increase of 6.1%.

User activity remains at a high level, while the number of active users and the length of time users use have also further improved. In the fourth quarter of 2019, the average daily messages sent and received by users on WeChat increased by 15% year-on-year. We have been using microcredit for a longer time, and we have shared more information.

WeChat also generates more revenue.

In the fourth quarter of 2019, social and other advertising revenues accounted for the vast majority of online advertising business revenueIn some cases, accounts for up to 80%. In the fourth quarter, Tencent’s online advertising revenue increased by 10% to 20.225 billion yuan. Social and other advertising revenues increased by 11% to RMB 16.274 billion.

This increase mainly reflects the increase in advertising inventory and exposure of WeChat Moments and WeChat Mini Programs.

At the beginning of 2019, WeChat adjusted the maximum number of single-day ad impressions per person in the circle of friends from two to three. And at the end of 2019, WeChat also tested the fourth advertising space in the circle of friends.

In addition to active users, user duration and advertising revenue, WeChat tentacles also perform well in the extension line.

In the fourth quarter of 2019, the average daily transaction volume of WeChat commercial payments exceeded 1 billion, with monthly active accounts exceeding 800 million, and monthly active merchants exceeding 50 million.

As a comparison, we found the description of the number of commercial payment transactions in the 2018 financial report-in 2018, the total daily transaction volume of WeChat payments exceeded 1 billion, but at that time, commercial transactions only accounted for more than half.

The number of commercial payment transactions this year alone exceeded 1 billion. It can be said that the overall market of transaction numbers has increased significantly in the past year.

Different from the 2018 financial report, it also separately mentioned the increase in the average daily traffic of applets and the increase in the proportion of small and medium-sized applets. The 2019 financial report is more concerned about the average daily transactions of the applet.

WeChat started accelerating the pace of commercialization of mini programs in 2019, and its achievements are also shown in the 2019 financial report.

In 2019, the average daily transactions of Mini Programs more than doubled year-on-year, and the total transaction volume exceeded RMB 800 billion. Although the total transaction amount is still a big gap compared with mature e-commerce platforms, the doubling of the number of transactions has proven that there are still more possibilities for the commercialization of small programs.

Four games in the fourth quarter saw rapid growth, and overseas growth more than doubled

In addition to WeChat, Tencent games are also the focus of everyone’s attention.

In 2019, Tencent said that its strategic focus is to enhance internal research and development capabilities, strengthen external cooperation and expand overseas business.

The expansion of overseas business has indeed paid off.

In the fourth quarter of 2019, Tencent’s overseas game revenue more than doubled year-on-year, accounting for 23% of online game revenue. Compared with the international market that contributed more than 10% of the revenue for Tencent Games in the second quarter of 2019, the 23% revenue share has increased significantly.

This is largely due to PUBG Mobile, Call of Duty