Tencent's annual net profit rises 21% to $4.45bn in 2015

Chinese online services conglomerate Tencent reported a 21% increase in net profit to RMB28.81 billion (US$4.455 billion) for 2015, South China Morning Post reported, citing a statement to the Hong Kong Stock Exchange. Total annual revenue rose 30% from 2014, driven largely by smartphone games sales and online advertising, with average monthly active users of the company’s Weixin social network and e-commerce platform rising to 697 million. Chief Executive Pony Ma said a major goal for 2016 was to expand Tencent’s advertising business – which saw revenue grow by 110% in 2015 – by adding more mobile advertising inventory. Ma added that Tencent had no plans to spin off Weixin.