Tencent Holdings Limited Incorporated in the Cayman Islands with limited liability 騰 訊 控 股 有 限 公 司 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 (Stock Code 股 份 代 號 : 700) Interim Report 中 期 報 告
2410 7 1,010,180 839,256 7 200,452 112,232 7 65,698 66,414 7 36,421 36,796 7 452,008 451,554 2,500 179 8 332,416 21 352,133 287,652 9 73,046 10 66,455 63,605 11 92,648 219,138 13 201,167 2,812,078 2,149,872 1,261 1,701 12 899,007 535,528 13 279,366 130,406 14 409,443 266,495 9 68,591 44,133 47,759 1,127,551 604,486 300,000 300,000 2,263,418 2,948,757 5,392,770 4,835,132 8,204,848 6,985,004 1 2008
15 195 194 15 1,402,286 1,455,854 15 (10,218) 15 287,971 220,230 93,712 93,712 4,334,377 3,413,823 6,108,323 5,183,813 107,656 91,630 6,215,979 5,275,443 21 50,864 59,944 17 255,446 117,062 18 603,737 669,194 19 292,184 292,184 26,434 30,060 170,833 71,133 179,924 134,746 20 409,447 335,238 1,938,005 1,649,617 1,988,869 1,709,561 8,204,848 6,985,004 3,454,765 3,185,515 6,266,843 5,335,387 22008 6 48
1,037,042 546,235 2,035,775 1,048,022 338,311 206,036 626,602 402,580 222,790 114,599 367,370 188,667 1,635 1,146 2,942 1,808 1,599,778 868,016 3,032,689 1,641,077 23 (453,069) (266,041 ) (841,534) (503,560) 1,146,709 601,975 2,191,155 1,137,517 22 25,855 23,315 73,303 57,328 23 (100,212) (70,870) (186,146) (141,080) 23 (307,059) (192,017 ) (575,701) (363,994) 765,293 362,403 1,502,611 689,771 24 (40,918) (16,690) (135,384) (29,195) (1,558) (1,558) 722,817 345,713 1,365,669 660,576 25 (70,618) (11,227) (171,458) (35,921) 652,199 334,486 1,194,211 624,655 643,979 334,486 1,178,357 624,655 8,220 15,854 652,199 334,486 1,194,211 624,655 26 0.359 0.188 0.657 0.352 26 0.349 0.183 0.639 0.341 6 48 3 2008
194 1,455,854 220,230 93,712 3,413,823 5,183,813 91,630 5,275,443 1,178,357 1,178,357 15,854 1,194,211 67,741 67,741 67,741 1 51,558 51,559 51,559 (105,126 ) (105,126 ) (105,126 ) (10,218 ) (10,218 ) (10,218 ) 27 (257,803 ) (257,803 ) (257,803 ) 172 172 195 1,402,286 (10,218 ) 287,971 93,712 4,334,377 6,108,323 107,656 6,215,979 192 1,459,020 118,078 80,925 2,059,541 3,717,756 3,717,756 624,655 624,655 624,655 40,814 40,814 40,814 2 50,886 50,888 50,888 5,544 (5,544 ) 27 (210,211 ) (210,211 ) (210,211 ) 194 1,509,906 158,892 86,469 2,468,441 4,223,902 4,223,902 42008 6 48
1,045,053 507,239 (1,333,843) (340,014) (321,588) (159,323) (610,378) 7,902 2,948,757 1,844,320 (74,961) (12,447) 2,263,418 1,839,775 1,331,143 978,389 932,275 861,386 2,263,418 1,839,775 6 48 5 2008
1 2 34 3 62008
3 (a) 11 12 14 2 19 1) 11 2) 12 12 3) 14 19 7 2008
3 (b) 1 23 27 32 1 2 3 8 13 15 16 82008
3 (c) 20% 50% 9 2008
4 4.1 73,046 68,591 409,443 266,495 225 300 735,353 1,764,204 122,336 224,678 2008 10
2008 4 4.1 40,918,000 135,384,000 16,160,000 28,136,000 5% 66,786,000 4.2 11
4 4.2 1,988,869 1,709,561 8,204,848 6,985,004 24% 24% 5 (a) 2008 12
2008 5 (a) 228,871,000 148,838,000 10% 22,887,000 22,887,000 (b) Black-Scholes BS BS 114,397,000 169,755,000 87% 87% 10% 17,564,000 13
5 (c) 25(a) 352,133,000 287,652,000 21 2008 14
2008 5 (d) MIH India Global Internet Limited MIH India Holdings Limited (i) MIH India Global Internet Limited MIH India Global Internet (ii) MIH India Holdings Limited MIH India HoldingsMIH India Global Internet MIH India Holdings MIH India Global Internet MIH China (BVI) Limited MIH China Naspers Limited MIH China (i) MIH India Global Internet 15
5 (d) MIH India Global Internet Limited MIH India Holdings Limited (ii) MIH India Global Internet MIH India Global Internet 50% (a) MIH India Global Internet MIH India Global Internet (b) MIH India Global Internet MIH India Global Internet MIH India Global Internet 2008 16
2008 6 1,037,042 338,311 222,790 1,635 1,599,778 767,798 220,550 169,134 (10,773 ) 1,146,709 25,855 (100,212) (307,059) 765,293 (40,918) (1,558) 722,817 (70,618) 652,199 17
6 546,235 206,036 114,599 1,146 868,016 400,480 129,766 78,829 (7,100) 601,975 23,315 (70,870) (192,017) 362,403 (16,690) 345,713 (11,227) 334,486 2008 18
2008 6 2,035,775 626,602 367,370 2,942 3,032,689 1,531,989 404,882 274,223 (19,939) 2,191,155 73,303 (186,146) (575,701) 1,502,611 (135,384) (1,558) 1,365,669 (171,458) 1,194,211 19
6 1,048,022 402,580 188,667 1,808 1,641,077 779,242 248,817 123,016 (13,558) 1,137,517 57,328 (141,080) (363,994) 689,771 (29,195) 660,576 (35,921) 624,655 7 2008 839,256 112,232 66,414 36,796 451,554 7 1,339 284,277 93,186 29,087 4,966 (4,966 ) (5,058) (113,268) (716) (375) (29,972) 1,010,180 200,452 65,698 36,421 452,008 20
2008 8 333,974 (1,558) 332,416 20.02% 25% 30% 9 10,000,000 CMT CMT 10 15% 5.25% 21
11 13 12 0 30 559,014 266,553 31 60 35,320 103,600 61 90 86,680 51,362 90 217,993 114,013 899,007 535,528 30 120 30 90 2008 22
2008 13 (i) 201,167 11 122,412 39,501 31,317 13,610 23,630 30,041 22,757 1,210 18,907 (ii) 9,800 9,800 62,792 23,995 279,366 130,406 480,533 130,406 23
13 (i) 335,271,000 201,167,000 (ii) [2000] 25 3% 14 2008 24
2008 15 1,768,451,768 192 1,459,020 118,078 1,577,290 40,814 40,814 13,838,725 2 50,886 50,888 1,782,290,493 194 1,509,906 158,892 1,668,992 1,788,574,647 194 1,455,854 220,230 1,676,278 67,741 67,741 (i) 10,948,191 1 51,558 51,559 (2,772,600 ) (105,126 ) (105,126 ) (ii) (10,218 ) (10,218 ) 1,796,750,238 195 1,402,286 (10,218 ) 287,971 1,680,234 10,000,000,000 0.0001 25
15 (i) 4,027,362 0.0497 0.4396 6,920,829 3.6650 31.7500 (ii) 196,00016(b) 11,437,000 16 (a) (i) (ii) I I I I 2008 26
2008 16 (a) (iii) II II II II II 5% II 5% 5% II II II I 30% 27
16 (a) II 1% 1% (1) I II 0.1010 19,006,964 8.4787 62,362,775 81,369,739 25.2600 3,110,000 31.7954 10,686,640 13,796,640 0.1044 (6,790,610) 6.4884 (7,048,115) (13,838,725) 0.1967 (274,424) 7.6101 (692,999) (967,423) 0.0968 11,941,930 9.6361 57,731,661 31.7954 10,686,640 80,360,231 0.1039 8,748,862 9.8131 50,196,082 32.4668 17,435,676 76,380,620 48.2972 7,288,977 7,288,977 0.1046 (4,027,362) 7.4123 (6,838,989) 31.7500 (81,840) (10,948,191) 7.9551 (724,312) 48.8305 (1,811,492) (2,535,804) 0.1033 4,721,500 10.2298 42,632,781 36.2249 22,831,321 70,185,602 2008 28
2008 16 (a) (1) 70,185,602 80,360,231 16,095,886 17,604,048 10,948,191 15 53.90 48.82 (2) 0.0497 3,685,700 6,396,400 0.1967 0.4396 1,035,800 2,352,462 4,721,500 8,748,862 3.6650 I 8.3500 25,873,533 31,960,622 11.5500 25.2600 16,759,248 18,235,460 42,632,781 50,196,082 31.7500 II 49.9500 22,831,321 17,435,676 70,185,602 76,380,620 29
16 (a) (3) BS (i) (ii) (iii) 23,873,000 2,510,000 25.26 25.25 3.99% 1.03% 48% (iv) 6,048,000 600,000 25.26 25.25 3.99% 1.03% 48% (v) 43,127,000 3,593,400 31.75 31.75 4.09% 1.03% 48% (iv) 48,282,000 3,611,240 31.75 31.75 4.09% 1.03% 48% (vi) 33,030,000 2,300,000 31.75 31.75 4.09% 1.03% 48% (vii) 622,000 50,000 32.63 32.60 4.40% 1.03% 48% (iv) 5,807,000 475,000 32.14 31.90 4.74% 1.03% 48% (iv) 8,966,000 657,000 32.14 31.90 4.74% 1.03% 48% (vi) 37,690,000 2,700,000 33.05 33.05 4.66% 1.03% 47% (vi) 49,529,000 3,300,000 33.05 33.05 4.66% 1.03% 47% (vii) 5,796,000 561,800 33.74 30.30 4.30% 1.03% 47% (iv) 1,128,000 96,400 33.74 30.30 4.30% 1.03% 47% (vi) 2008 30
2008 16 (a) (3) (i) (ii) (iii) 741,000 42,990 45.50 45.50 4.16% 1.03% 48% (iv) 211,000 10,990 45.50 45.50 4.16% 1.03% 48% (vi) 1,637,000 90,755 49.85 49.20 2.92% 1.03% 49% (iv) 574,000 28,571 49.85 49.20 2.92% 1.03% 49% (vi) 73,154,000 4,243,350 46.50 46.50 2.38% 1.03% 50% (iv) 23,324,000 1,306,600 46.50 46.50 2.38% 1.03% 50% (viii) 6,318,000 330,167 46.50 46.50 2.38% 1.03% 50% (vi) 3,372,000 182,070 49.95 49.95 2.39% 1.03% 50% (iv) 6,565,000 416,990 42.65 42.65 2.24% 1.03% 50% (iv) 872,000 51,820 47.72 46.50 2.30% 1.03% 50% (iv) 382,000 20,390 47.72 46.50 2.30% 1.03% 50% (vi) 410,000 20,390 47.72 46.50 2.30% 1.03% 50% (vii) 31
16 (a) (3) (i) (ii) (iii) (iv) 20% 20% (v) 20% 20% (vi) 20% 20% (vii) 20% 20% 20%20% (viii) 20% 20% 2008 32
2008 16 (a) (4) 87% (b) 2% 1% 11,839,000 196,000 195,760 33
17 0 30 218,307 63,811 31 60 663 11,964 61 90 9,634 14,495 90 26,842 26,792 18 255,446 117,062 240,421 233,466 142,285 123,374 146,092 31,154 25,117 C2C 72,199 61,210 30,915 12,810 10,516 73,953 69,419 603,737 669,194 2008 34
2008 19 292,184 292,184 40,000,000 6.1013% 300,000,000 20 35
21 227,708 113,701 (315) (860) 73,876 6,670 301,269 119,511 (a) 130,522 130,522 2,137 2,137 28,163 28,163 (18,757) (217) (18,974) 139,928 1,920 141,848 287,652 287,652 2008 98,404 98,404 (33,923) (33,923) 352,133 352,133 36
2008 21 (a) 5(c) (b) (4,688) (12,133) (16,821) (2,997) (2,997) (4,023) 1,504 (2,519) (8,711) (13,626) (22,337) (7,631) (52,313) (59,944) (315) (315) 7,407 1,988 9,395 (224) (50,640) (50,864) (b) 37
22 22,066 22,070 47,300 42,052 (942) (1,308) 4,641 730 25,680 1,782 39,780 13,258 (20,000) (20,000 ) (949) 771 1,582 1,288 25,855 23,315 73,303 57,328 2008 38
2008 23 326,228 163,881 591,204 319,114 252,057 154,421 478,736 257,956 43,147 38,438 75,288 75,688 59,996 34,352 113,268 65,550 16,106 19,877 35,886 38,843 21,441 19,732 43,921 34,338 18,267 11,204 29,972 18,201 2,100 2,250 2,100 2,250 120,998 84,773 233,006 196,694 860,340 528,928 1,603,381 1,008,634 164,183,000297,371,000 82,971,000163,100,000 127,474,000 33,160,000 68,402,00013,328,000 230,335,000 61,182,000 134,902,000 25,202,000 39
24 25 (a) (i) (ii) (iii) 25% 2008 40
2008 25 (a) (iii) 18% 20% 22% 24% 25% 50% 115,097 29,878 245,334 42,591 (44,479) (18,651 ) (73,876) (6,670) 70,618 11,227 171,458 35,921 41
25 (a) (iii) 18% 15% 2008 722,817 345,713 1,365,669 660,576 1,558 1,558 724,375 345,713 1,367,227 660,576 18% 15% 130,388 51,857 246,101 99,086 (3,097) (3,097) 1,105 2,837 5,255 4,522 (61,456) (38,367) (83,645 ) (74,836) 3,852 2,295 14,739 8,553 (174) (7,395) (7,895) (1,404) 70,618 11,227 171,458 35,921 42
2008 25 (b) 17% 3-5% 1% 3% 26 643,979 334,486 1,178,357 624,655 1,794,673 1,779,162 1,794,163 1,775,764 0.359 0.188 0.657 0.352 43
26 643,979 334,486 1,178,357 624,655 1,794,673 1,779,162 1,794,163 1,775,764 50,490 53,536 51,224 56,064 95 47 1,845,258 1,832,698 1,845,434 1,831,828 0.349 0.183 0.639 0.341 2008 44
2008 27 0.16 286,990,000 257,803,000 213,369,000 210,211,000 28 (a) 314,775 132,813 171,308 85,565 48,398 534,481 218,378 634,683 447,664 1,169,164 666,042 (b) 64,304 74,073 55,238 76,789 6,191 7,490 125,733 158,352 45
28 (c) 181,597 36,207 10,302 2,450 29 191,899 38,657 11,000,000 100% 2008 46
2008 30 5(d) 16 31 219,138,000 32 60% 29% 11% (i) (ii) 47
32 (i) 73,094,000 15.6% 15.6% (ii) 80% 33 2008 48
2008 34 2410 34 49
822.2 783.4 4.95% 341.9 317.9 7.55% 42.0 40.3 4.22% 627.0 545.4 14.96% (1) 4,684.8 4,056.3 15.49% 26.1 22.4 16.52% (2) 13.4 12.6 6.35% (1) (2) 2008 50
2008 QQ Qzone QQ QQ QQ 51
3,032,689 1,641,077 (841,534) (503,560) 2,191,155 1,137,517 73,303 57,328 (186,146) (141,080) (575,701) (363,994) 1,502,611 689,771 (135,384) (29,195) (1,558) 1,365,669 660,576 (171,458) (35,921) 1,194,211 624,655 1,178,357 624,655 15,854 2008 52
2008 16.411 84.8% 30.327 2,035,775 67.1% 1,048,022 63.9% 626,602 20.7% 402,580 24.5% 367,370 12.1% 188,667 11.5% 2,942 0.1% 1,808 0.1% 3,032,689 100.0% 1,641,077 100.0% 5.036 67.1% 8.415 503,786 24.7% 268,780 25.6% 221,720 35.4% 153,763 38.2% 93,147 25.4% 65,651 34.8% 22,881 777.7% 15,366 849.9% 841,534 503,560 53
15.998 84.3% 11.6% 10.370 89.9% 3.8% 3.383 64.2% 17.4% 2.228 94.4% 54.1% 4.531 70.3% 16.6% 2,590 10.9% 45.5% 1.002 41.4% 16.6% 3.071 59.9% 14.3% 7.653 111.2% 3.8% 47.8% 41.8% 51.5% 2008 6.522 95.0% 20.3% 40.8% 38.5% 37.8% 6.440 92.5% 20.5% 54
2008 1,599,778 1,432,911 (453,069) (388,465) 1,146,709 1,044,446 25,855 47,448 (100,212) (85,934) (307,059) (268,642) 765,293 737,318 (40,918) (94,466) (1,558) 722,817 642,852 (70,618) (100,840) 652,199 542,012 643,979 534,378 8,220 7,634 55
14.329 11.6% 15.998 1,037,042 64.8% 998,733 69.7% 338,311 21.2% 288,291 20.1% 222,790 13.9% 144,580 10.1% 1,635 0.1% 1,307 0.1% 1,599,778 100.0% 1,432,911 100.0% 9.987 3.8% 10.370 QQ QQ QQ QQ QQ 60 80 QQ 2008 56
2008 2.883 17.4% 3.383 2.5G WAP IVR A WAP IVR 1.446 54.1% 2.228 57
3.885 16.6% 4.531 27.1% 28.3% 269,244 26.0% 234,542 23.5% 117,761 34.8% 103,959 36.1% 53,656 24.1% 39,491 27.3% 12,408 758.9% 10,473 801.3% 453,069 388,465 2.345 14.8% 2.692 QQ 2008 1.040 13.3% 1.178 58
2008 3,950 35.9% 5,370 4,740 45.5% 2,590 2,000 2,000 8,590 16.6% 1.002 6.0% 6.3% 2.686 14.3% 3.071 18.7% 19.2% 59
9,450 56.7% 4,090 1.008 30.0% 7,060 5,370 4,470 5.420 20.3% 6.522 37.8% 40.8% 5.344 20.5% 6.440 2008 60
2008 1,599,778 868,016 (453,069) (266,041) 1,146,709 601,975 25,855 23,315 (100,212) (70,870) (307,059) (192,017) 765,293 362,403 (40,918) (16,690) (1,558) 722,817 345,713 (70,618) (11,227) 652,199 334,486 643,979 334,486 8,220 61
8.680 84.3% 15.998 1,037,042 64.8% 546,235 62.9% 338,311 21.2% 206,036 23.8% 222,790 13.9% 114,599 13.2% 1,635 0.1% 1,146 0.1% 1,599,778 100.0% 868,016 100.0% 5.462 89.9% 10.370 Qzone QQ QQ QQ QQ QQ QQ QQ QQ QQ Qzone 2008 62
2008 2.060 64.2% 3.383 WAP IVR 1.146 94.4% 2.228 QQ QQ.com QQ QQ.com 2.660 70.3% 4.531 30.6% 28.3% 269,244 26.0% 145,755 26.7% 117,761 34.8% 76,270 37.0% 53,656 24.1% 35,770 31.2% 12,408 758.9% 8,246 719.5% 453,069 266,041 63
1.458 84.7% 2.692 Qzone 7,630 54.4% 1.178 3,580 50.0% 5,370 2,330 2,590 2,000 2,000 2008 64
2008 7,090 41.4% 1.002 8.2% 6.3% 1.920 59.9% 3.071 22.1% 19.2% 4,090 1,670 1,120 529.0% 7,060 5,370 2,820 65
3.345 95.0% 6.522 38.5% 40.8% 3.345 92.5% 6.440 2,263,418 2,360,257 1,127,551 903,197 409,443 464,787 68,591 70,190 3,869,003 3,798,431 4,000 3 2008 13.357 66
2008 MMOG QQ A 2.53 QQ.com 30 2,300 67
Qzone QQ QQ QQ QQ MMOG QQ 60 80 MMOG 50 QQ QQ 40 WAP IVR A 2008 68
2008 Tencent MIND M I N D (a) XV 7 8 XV (b) 352 (c) (A) / 1 227,006,680 12.63% 2 77,000,000 4.29% 3 12,153,600 0.68% 4 100,000 0.01% Iain Ferguson Bruce 4 100,000 0.01% Ian Charles Stone 4 100,000 0.01% 69
(A) 1. Advance Data Services Limited 2. Best Update International Limited 3. 150,000 I II12,003,600 4. I (B) 10,857,140 54.29% 5,971,427 54.29% 4,571,420 22.86% 2,514,281 22.86% 2008 70
2008 I II I I II 16 12,303,600 4.80 3,103,600 600,000 2,503,600 1 2 8.35 2,000,000 2,000,000 2 11.55 1,500,000 1,500,000 2 25.26 1,000,000 1,000,000 3 33.05 2,000,000 2,000,000 4 33.05 3,000,000 3,000,000 5 12,603,600 600,000 12,003,600 71
25.26 100,000 100,000 3 Iain Ferguson 25.26 100,000 100,000 Bruce 3 Ian Charles 25.26 100,000 100,000 Stone 3 12,903,600 600,000 12,303,600 1. 65.45 2. 25% 25% 3. 20% 20% 4. 20% 20% 5. 20% 20%20% 20% 6. 2008 72
2008 2% 35,755,232 1% 17,877,616 14A 195,760 73
XV 2 3 336 5% MIH China (BVI) Limited 1 630,240,380 35.08% Advance Data Services Limited 2 227,006,680 12.63% ABSA Bank Limited 3 185,000,000 10.30% 1. MIH China (BVI) Limited MIH Naspers Limited MIH (Mauritius) Limited MIH Holdings Limited XV Naspers Limited MIH (Mauritius) Limited MIH Holdings Limited 630,240,380MIH 630,240,380185,000,000 ABSA Bank Limited 3 2. Advance Data Services Limited 3. ABSA Bank Limited 185,000,000MIH ABSA Bank Limited Barclays Bank PLC ABSA Group Limited XV Barclays Bank PLC ABSA Group Limited 185,000,000 336 2008 74
2008 5,168 3,296 5.936 3.213 2,772,600 1,500,000 39.90 35.95 58.33 1,272,600 45.50 44.60 57.19 2,772,600 115.52 75
A.2.1 A.4.2 2008 76
Website 網 址 :www.tencent.com Head Office 5th to 10th Floor, FIYTA Hi-tech Building, Gaoxinnanyi Avenue Southern District of Hi-tech Park, Shenzhen, 518057, the PRC Zipcode 郵 編 :518057 Telephone 電 話 :86-755-86013388 Facsimile 傳 真 :86-755-86013399 Hong Kong Office Room 3002, 30/F., Far East Finance Centre 16 Harcourt Road, Hong Kong Telephone 電 話 :852-21795122 Facsimile 傳 真 :852-25290222 總 辦 事 處 深 圳 市 高 新 科 技 園 南 區 高 新 南 一 道 飛 亞 達 高 科 技 大 廈 5 至 10 樓 香 港 辦 事 處 香 港 夏 愨 道 16 號 遠 東 金 融 中 心 30 樓 3002 室