WIRELESS BUSINESS TOOK LARGE PART IN TENCENT

AsiaInfo Services
07-06-2011
Wireless Business Took Large Part in Tencent

SHANGHAI, Jul 06, 2011 (SinoCast Daily Business Beat via COMTEX) -- It is reported that the largest shareholder of Taomee Holdings Ltd.(Taomee Holdings, NYSE: TAOM), Zeng Liqing was asked to cooperate in the investigation of the corruption of China Mobile Group Co., Ltd. (China Mobile, SEHK: 0941).

Zeng Liqing is one of the five founders of Tencent Holdings Ltd. (Tencent, SEHK: 0700). He had worked as the chief operating officer of Tencent during 1999 to 2007, generally taking charge of the company's business.

Mobile and telecom added value service had always been an key revenue source of Tencent. According to fiscal report of 2008 from Tencent, the company achieved the operating revenue of CNY 1.40 billion (USD 204.7 million) on mobile and telecom added value services in 2008, rising 73.2% compared to 2007. At the same time, the total operating revenue of Tencent amounted to CNY 7.155 billion (USD 1.047 billion).

By 2010, operating revenue of mobile and telecom added value service had reached CNY 1.814 billion, accounting for about 22.4% of the total revenue of the year.

Source: www.163.com (July 06, 2011)

KEYWORD: SHANGHAI INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: Internet & Online Services
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