Tencent and its affiliates have offloaded shares in a large number of companies

Since last October, Tencent and its affiliates have offloaded shares in a large number of companies including Malaysian landscaping firm HLA Group, Chinese e-commerce giant JD.com, Singaporean online gaming and e-commerce company Sea, Chinese retailer Better Life Commercial Chain Share and Hangzhou Culture & Creative, the operator behind online auction platform Weipaitang that filed to go public on the Hong Kong stock exchange last month.

The company’s other segments' net earnings, which includes investment returns, was only CNY13.1 billion (USD1.9 billion) in the three months ended March 31, according to its latest financial report. In comparison, it earned CNY18.5 billion from selling its shares in Sea.