Chengdu 2021 sponsor Tencent has published strong financial figures ©Getty Images

Chengdu 2021 sponsor Tencent has published very solid-looking financial figures for the three months to end-June, reinforcing the impression that the booming tech sector is coping with coronavirus better than most other industries. 

The Chinese company said that total revenues for the period were up 29 per cent year-on-year at just under CNY ¥115 billion (£12.8 billion/$16.2 billion/€14 billion)

Profit rose at the same rate to CNY ¥31.2 billion (£3.5 billion/$4.4 billion/€3.8 billion).

Ma Huateng, chairman and chief executive, said that though COVID-19 had swept the world, the Shenzhen-based group had achieved "generally robust operating and financial results".

This testified to the "diligence of our teams and resilience of our business model", Huateng added.

The figures, for Tencent Holdings, showed online games revenues rising 40 per cent in the second quarter to CNY ¥38.3 billion (£4.25 billion/$5.5 billion/€4.7 billion). 

The Chengdu 2021 Summer World University Games are planned for next August ©Chengdu 2021
The Chengdu 2021 Summer World University Games are planned for next August ©Chengdu 2021

The company said this increase was driven primarily by higher revenues from smart phone games, including Peacekeeper Elite and Honour of Kings, in both Chinese and overseas markets.

A strategy game called Chess Rush was also launched during the quarter.

Financial technology and business services revenues climbed by 30 per cent year-on-year to CNY ¥29.9 billion (£3.3 billion/$4.3 billion/€3.65 billion).

Revenues from online advertising rose a more sedate 13 per cent to CNY ¥18.6 billion (£2.1 billion/$2.7 billion/€2.3 billion).

Tencent was unveiled in November as the official internet partner of the 2021 Summer World University Games in Chengdu.

The group is to provide technology, such as cloud computing services, data management and information technology security at the event due to take place next August.

Tencent is also a founding global partner of the Global Esports Federation, a body launched last December in Singapore.