Abstract Background: Tencent, as a listed company with strong comprehensive ability and also an early launch of equity incentive plan, is quite representative in its implementation of equity incentive plan.  Purpose: Tencent's equity incentive plan is the subject of this study, and a combination of theory and case studies is used to analyze Tencent's own development status and the current status of its equity incentive plan, and to further study the company's growth capability. Method: Qualitative analysis was conducted from both financial and non-financial indicators. In the study of financial indicators, Tencent's data from 2009-2019 was analyzed and verified that the degree of equity incentive has a significant correlation with the financial performance of the enterprise, and then specific indicators under the operating capacity, profitability, solvency and growth capacity of the enterprise were analyzed and the conclusion that equity incentive has a positive impact on the expected growth of the enterprise was drawn. Conclusion: Tencent's equity incentive has a positive effect on the future development of the company. The human resource department of the company can design a better incentive plan and more reasonable evaluation index to promote the effectiveness of the equity incentive policy of the company.