While I was sitting in the car, I just browsed through my WeChat Moments, read the articles from the Official Accounts that I followed on WeChat, and chatted with my friends on WeChat:įor lunch, I went to a popular restaurant, just to found out that I can even review the menu and order through WeChat, let alone make the final payment through it. If you are not a big fan of the gig economy, that's totally fine, because you can use WeChat to pay for your normal taxi fares as well: Source: Example Photo Taken from the InternetĪfter breakfast, I ordered a taxi using an affiliated program within WeChat Wallet called DiDi Chuxing, which is basically the Chinese version of Uber/Lyft:
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Instead of paying with a credit card or cash, I paid through WeChat Pay by scanning the QR code placed at the counter. In the morning, I woke up and went to a mobile breakfast shop (like a food truck) to try some authentic local food. Let me describe to you how a day in Beijing looks like with just WeChat: This summer, I went to Beijing for a short trip and was amazed by how WeChat has dominated people's daily life, compared to like 3 years ago. In China, you can literally do EVERYTHING with WeChat. The number of users is not the scariest part of this app, the penetration of it throughout people's life is that makes WeChat unbeatable. Consider China has a population of just 1.4 billion, this means almost 8 out of 10 people in China is using WeChat/Weixin, that's why we call it "THE App" in China. WeChat/Weixin reached 1.13 billion MAUs by Q2 2019, making it undoubtedly the most popular social network app in China. In this article, we will focus on a thorough analysis of Wechat.
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While Tencent is still in the leading position in most of the areas it got involved, we think Wechat is really the major driver for Tencent in the next 3-5 years. If we take a look at the major sectors that have delivered high revenue growth in this quarter, almost all of them are within the Wechat ecosystem: Luckily, Tencent has found the next engine for their growth in the next 3-5 years, Wechat (Weixin in China). In Q2 earnings of Tencent ( OTCPK:TCEHY), the company reports overall revenue growth 21% YoY to 88.8 billion yuan, and net income of 24.14 billion yuan, a yoy growth of 35%.Īlthough online games still contributed close to 1/3 of the total revenue, the relative importance of that sector has been declining, which Tencent has been doing that strategically. Tencent's Growth Is Centered Around WeChat Now
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