tencent holdings ltd (700) Snapshot

Tencent Holdings Limited signed a cooperation agreement with Chongqing Changan Automobile Co Ltd. to establish an intelligent-connected vehicle (ICV) in a joint venture (JV). Both companies involved in the transaction are based in China. The joint venture company will focus on the development of car networking platform, integrated internet of vehicles (IoV) solutions and big data cloud, etc. As a part of the transaction, Chongqing Changan and Tencent's unit Dadi Tongtu Information Technology Co. Ltd. will invest CNY 98 million (USD 15.60 million) and CNY102 million (USD 16.24 million) for a 49% and 51% stake in the JV, respectively. Following the transaction, Tencent Holdings and Chongqing Changan will focus on developing input and output virtualization (IoV) integration solutions as well as relevant operational businesses and services. Ma Huateng is the chairman of Tencent, while Zhu Huarong is the president of Chongqing Changan.

Tencent Holdings Limited Re-Designation of the Chairman of Audit Committee. Iain Ferguson Bruce will cease to be the Chairman of the Audit Committee; and Yang Siu Shun will be appointed as the Chairman of the Audit Committee. After the aforesaid re-designation, Mr. Bruce will remain to be a member of the Audit Committee and an independent non-executive director of the Company subject to the result of his re-election at the AGM. As such, the Audit Committee will still comprise Mr. Yang, Mr. Bruce, Ian Charles Stone and Charles St Leger Searle.

Tencent Holdings Limited announced that the board has recommended the payment of a final dividend of HKD 0.88 per share (2016 value is HKD 0.61 per share) for the year ended 31 December 2017, subject to the approval of the shareholders at the 2018 AGM. Such proposed dividend will be payable on 1 June 2018 to the shareholders whose names appear on the register of members of the company on 24 May 2018.