Tencent capex, CY2025 Q4

Tencent reported ¥19.6B of capex for CY2025 Q4, the quarter covering October to December 2025. That is −46% on the ¥36.6B of the same quarter a year earlier (CY2024 Q4).

Tencent provides cloud infrastructure and business services alongside games, social platforms and advertising. These figures cover capital expenditures across the group.

Capex, CY2025 Q4¥19.6B

Year on year−46%

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Verified 11 Nov 2026

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Reported quarter: CY2025 Q4 1
Calendar quarter: 2025 Q4 1
Capex (CNY) (CNY million): 19,632 1
“19,632”
Capex definition: Tencent group capital expenditures for IT infrastructure, datacenters, land use rights, offices and intellectual property excluding media content. This recorded capex differs from capex cash payments. 1

Sources

Tencent results announcement: Tencent CY2025 Q4 accessed 2026-11-11

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