Tencent Q2 profit up 14%

Tencent, a provider of the mainland's most popular instant-messaging service, QQ, had profit jumped 43.3 percent in the second quarter, The Standard reported. Net profit increased to 267.9 million yuan (HK$261.5 million) from 186.9 million yuan a year ago, mainly boosted by a 111.3 percent increase in sales to 704.9 million yuan. However, mobile value-added services, which account for about 25.3 percent of the company's revenues, could be affected over the next few months as China Mobile - which has the rights to operate Internet services in the mainland and through international gateways - introduces a series of policies to protect its users, said the paper. Tencent's contract with China Mobile to provide mobile chat services might not be renewed after the end of this year, since China Mobile has developed its own mobile chat service, Femoo, in cooperation with Huawei Technologies.