Tencent says it will not scale back on investments this year

  • China's Tencent Holdings will not scale back on investments this year after a record high of 16 companies it invested in launched IPOs last year, President Martin Lau said at a closed-door investor conference in Beijing.
  • Tencent invested in more than 700 companies in the past 11 years, Lau said, and 63 of those are now listed, while 122 are valued at more than $1 billion, according to the transcript.
  • Shares of Tencent fell 23 percent in 2018.
People visit the Tencent stand during the 1st Digital China Summit at Strait International Conference and Exhibition Center on Apr. 22, 2018 in Fuzhou, China.
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People visit the Tencent stand during the 1st Digital China Summit at Strait International Conference and Exhibition Center on Apr. 22, 2018 in Fuzhou, China.

China's Tencent Holdings will not scale back on investments this year after a record high of 16 companies it invested in launched IPOs last year, President Martin Lau said at a closed-door investor conference in Beijing.

Lau said 2018 was the best year for the company in terms of investment, according to a transcript of his speech made last month and seen by Reuters on Wednesday.

Tencent invested in more than 700 companies in the past 11 years, Lau said, and 63 of those are now listed, while 122 are valued at more than $1 billion, according to the transcript.

Shares of Tencent fell 23 percent in 2018.