Tencent in health move

Business | Tracy Hu 7 Dec 2017

Tencent chairman Pony Ma said yesterday at a conference in Wuzhen that the company has invested in seven online medical companies and has been collaborating with hospitals throughout China as he thinks artificial intelligence will be widely used in the medical industry.

Tencent-backed online healthcare services provider WeDoctor Group is reportedly seeking an initial public offering in Hong Kong next year and is raising US$500 million (HK$3.9 billion) ahead of its debut.

Meanwhile, mainland online gaming giant NetDragon (0777) turned to profit with contributions from its gaming business. It reported a net profit of 5.1 million yuan (HK$6.01 million) for the third quarter ended September, compared with a loss of 65.4 million yuan for the same period last year.

For the nine months, net profit was 30.9 million yuan, compared to a loss of 108 million yuan for the same period last year.

The group said that the gaming business continued its outstanding performance in the third quarter on the back of its flagship game Eudemons Online that has provided another quarter of historical record-high revenue.

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