Tencent has rebutted reports claiming it plans to increase its advertising revenue to up to 40% of its gross corporate revenue.

According to tech media outlet 36Kr (in Chinese), a high-level officer at Tencent said on June 21 that in one to two years the company plans to increase its advertising revenue’s contribution to corporate gross revenue to 30% to 40%. The anonymous source also stressed that Tencent would like to keep the rate below 50% to best protect user experience.

TechNode contacted Tencent to confirm the information. A spokesperson said the report is not true.

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Runhua Zhao

Runhua Zhao is a technology reporter based in Beijing. Connect with her via email: runhuazhao@technode.com