Tencent held its annual meeting in Shenzhen on January 29. Ma Huateng, Chairman of the Board of Directors and CEO, reviewed the development of Tencent's various businesses over the past year and proposed plans for the future. In January 2024, the official website of the Beijing Municipal Commission of Planning and Nature revealed that Tencent had invested more than 6.4 billion yuan to acquire a plot of land in Beijing's Haidian district, which was seen by the outside world as a sign of boosting confidence, but Ma Huateng said that the land acquisition was not just to boost confidence, but was carefully considered. “We speculated on the acquisition of land in Beijing. Everyone is still cutting costs and increasing efficiency. It is unclear whether we can climb the hill and how deep this bottom is. If it is easy to invest tens of billions of dollars, it would be appropriate, and whether this direction would be wrong, so we postponed it. Until last year, when we saw the overall environment, our company's business was also basically developing relatively steadily. Because there was still such demand, we decided to take over this site.”
Zhitongcaijing · 01/29 10:49
Tencent held its annual meeting in Shenzhen on January 29. Ma Huateng, Chairman of the Board of Directors and CEO, reviewed the development of Tencent's various businesses over the past year and proposed plans for the future. In January 2024, the official website of the Beijing Municipal Commission of Planning and Nature revealed that Tencent had invested more than 6.4 billion yuan to acquire a plot of land in Beijing's Haidian district, which was seen by the outside world as a sign of boosting confidence. However, Ma Huateng said that the land acquisition was not just to boost confidence, but was carefully considered. “We speculated on the acquisition of land in Beijing. Everyone is still cutting costs and increasing efficiency. It is unclear whether we can climb the hill and how deep this bottom is. If it is easy to invest tens of billions of dollars, it would be appropriate, and whether this direction would be wrong, so we postponed it. Until last year, when we saw the overall environment, our company's business was also basically developing relatively steadily. Because there was still such demand, we decided to take over this site.”