Tencent's third anniversary of listing: the little penguin is "happy and in pain"

On June 16, 2004, Tencent was officially listed on the Hong Kong Stock Exchange. Calculated according to its issue price of $3.70 per share, Tencent had a market value of 6.22 billion Hong Kong dollars. Three years have passed, and now Tencent's market value is about 35 billion Hong Kong dollars. On May 16, 2007, Tencent (Hong Kong Stock Exchange stock code: 700) announced its unaudited results for the first quarter ended March 31, 2007. The profit during this period was RMB 2.902 billion, an increase of 10.1% compared to the previous quarter and 16.2% compared to the same period last year. This means that Tencent makes nearly RMB 1 billion in profit every month. What has Tencent relied on to achieve today's performance? Is there also danger lurking behind the prosperity? The following review by Daidu Consulting regarding Tencent's three-year anniversary of its listing may give us some insight.