On April 14, Tencent announced its financial results for the first quarter of 2025, reporting total revenue of RMB 180 billion, a year-on-year increase of 13%. The company's ToB (technology for businesses) segment, which includes financial technology and corporate services, generated 54.9 billion yuan in revenue. The growth in corporate services revenue was driven by rapid increases in cloud services and AI-related income, achieving double-digit growth.
Chairman and CEO Ma Huateng stated that these strategic AI investments will create value for users and society while generating long-term, substantial returns for Tencent. He emphasized, "We believe that during this phase of AI strategic investment, our existing high-quality revenue will provide operational leverage to absorb the additional costs from AI-related investments, maintaining financial health."
Tencent's R&D spending in Q1 grew 21% year-on-year to RMB 18.9 billion. The company has upgraded its AI capabilities across foundational models, computational power, development tools, and applications. The Tencent Hunyuan 3D generation model has improved modeling accuracy tenfold, while Tencent Yuanbao has introduced capabilities for image and document parsing, code generation, and previews. Recently, it was integrated into the WeChat contact list, enabling seamless connections from intelligent creation to social sharing. Tencent Cloud's knowledge engine has developed an AI assistant that understands business through retrieval-augmented generation (RAG), and its database has built AI-driven data hubs for over 3,000 enterprises.
Accelerating R&D Investments: Driving Growth with "AI + Cloud" Upgrades
Tencent continues to accelerate the iteration and upgrade of foundational models and applications, enhancing the competitiveness of its ToB products. The Hunyuan model is now fully integrated across Tencent's business lines and is also available for external use through Tencent Cloud, aiding innovation and efficiency for enterprises and developers. Furthermore, Tencent's open-source models now cover multiple modalities, including text, images, video, and 3D generation.
In terms of computational infrastructure, Tencent Cloud has provided services to over 90% of leading domestic model companies. Through its rich computational ecosystem, Tencent Cloud has linked the entire chain of "computational power - development - application," helping industries overcome computational bottlenecks.
In AI-native applications, Tencent Yuanbao launched several features in Q1, including image file parsing, code generation, and previews, and has recently been added to the WeChat contact list. Tencent ima integrated multiple models, including Hunyuan and DeepSeek, and introduced mobile versions and a "Knowledge Account" for creators.
Tencent Cloud's suite of products is also accelerating AI integration, helping businesses shorten the distance from models to applications. As of the end of March 2025, Tencent has publicly filed over 86,000 patent applications globally, with more than 46,000 patents granted.
Accelerating Industrial Implementation: Unlocking Technological Productivity
With the upgrade of technology and products, Tencent Cloud continues to serve a broader range of users and business scenarios, having implemented solutions in over 30 industries, including government, education, healthcare, finance, media, transportation, retail, and tourism. The Tencent Cloud knowledge engine has been applied in various sectors such as automotive, logistics, and pharmaceutical retail. In terms of integrated innovation scenarios, Tencent Cloud's complete domestic software system has been successfully implemented in over 30 industries, including government and enterprise, finance, transportation, industrial energy, and healthcare.
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