May. 21, 2012 (China Knowledge) - Tencent Holdings Ltd<0700
>, a leading provider of Internet, mobile and telecom value-added services in China, is planning to restructure its business into six units.
In a statement, the Hong Kong-listed
firm said the six units comprise of a corporate development group, an interactive entertainment group, a mobile internet group, an online media group, a social network group and a technology and engineering group.
A wholly-owned subsidiary, named Tencent E-Commerce Holding Co, is expected to be set up to manage Tencent's e-commerce business.
In the first quarter of this year, Tencent's revenue from e-commerce sector reached RMB 752.8 million, and the amount was between RMB 25 billion and RMB 30 billion in 2011, much less than nearly RMB 1 trillion Taobao.com, Asia's biggest online shopping portal, realized last year, said analysts, adding that Tencent's users, however, is several times than that of Taobao.com.
Tencent expects its revenue from e-commerce business to reach RMB 200 billion per year by the end of 2015, sources reported.