Chairman further reduces shareholding in Tencent.(Tencent Holdings Ltd. chairman and CEO Ma Huateng)(Brief article)

Apr. 8, 2011 (China Knowledge) - Ma Huateng, chairman and CEO of Tencent Holdings Ltd<0700>, a leading provider of Internet, mobile and telecom value-added services in China, further reduced his shareholding in the company from the previous 11.04% to 10.94% on Apr. 4, according to information provided by the Hong Kong Stock Exchange yesterday. Ma sold approximately 2.09 million shares at around HK$67.81 apiece on average. The shares were traded off the HKEx for a total of HK$135.61 million. On Mar. 28, 2011, Ma cut his shareholding of Tencent by selling 2 million shares at an average price of around HK$67.81 apiece. After the deal, Ma's shareholding in the company reduced to 11.05% from 11.16%. Catherine Chen, a spokeswoman at Tencent, said Ma's move is a personal issue and has nothing to do with the company's operation. Tencent's net profit was RMB 2.2 billion in the fourth quarter of last year, up 46% year on year, boosted by higher revenue from Internet value-added services and online advertising. Total revenue increased 50% year on year to RMB 5.52 billion in the fourth quarter.