Tencent loses $20 billion in value after China attacks myopia with gaming curbs
6 years, 4 months ago

Tencent loses $20 billion in value after China attacks myopia with gaming curbs

Live Mint  

Hong Kong/Beijing: Tencent Holdings’ market value slumped by around $20 billion on Friday after China intensified a crackdown on online gaming citing rising levels of myopia, heightening regulatory risks for companies in the world’s biggest gaming market. The limits came around the same time as Tencent drew scrutiny from China’s communist party mouthpiece, the People’s Daily, which described “Honour of Kings” as poison and called for tighter regulatory controls of online games. More than 450 million of China’s 1.37 billion population suffer from myopia, with the condition increasingly affecting children, according to statistics announced at a National Health Commission conference in June. Founded in 1998, Tencent’s main business is video games but the company also runs China’s dominant social network, WeChat, with more than 1 billion users.

China Market Mobile Phones Regulatory Billion Myopia Tencent Mobile Game Other Electronic Devices  market  loses  china  regulatory  mobile  game  tencent  curbs  billion  attacks  chinas  value  online  myopia  20  gaming

History of this topic

Chinese tech giant Tencent among
1 week, 1 day ago

Chinese tech giant Tencent among

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The US has added social media and gaming giant Tencent to an updated …

The Chinese Communist Party wants (a bit) less consumer internet
10 months ago

The Chinese Communist Party wants (a bit) less consumer internet

Hindustan Times  

INVESTORS IN CHINESE tech stocks might feel like characters in an online “party game”, a type of multiplayer activity that became all the rage in 2023. The latest addition to the genre is “DreamStar”, released on December 15th by Tencent, China’s biggest digital giant, with a big gaming business. Tencent’s share price jumped on hopes the game would challenge the …

Tencent chief says gaming business under threat, catching up in AI
11 months, 2 weeks ago

Tencent chief says gaming business under threat, catching up in AI

The Hindu  

Pony Ma, chief executive and co-founder of Tencent Holdings, has said that the company's video games business faces great challenges from competitors but is catching up in artificial intelligence development. Ma’s speech underscores concerns whether Tencent, the world’s biggest gaming company and the operator of China’s biggest social network WeChat, can defend its status as China’s No.1 tech company at …

Tencent in Talks with Meta to Sell Quest VR Headsets in China
1 year, 10 months ago

Tencent in Talks with Meta to Sell Quest VR Headsets in China

News 18  

HONG KONG: Tencent Holdings is in talks with Meta Platforms Inc to distribute its Meta Quest line of virtual reality headsets in China, three people familiar with the matter said. The talks between Tencent and Meta started last year and have continued in recent months, according to one of the sources who has direct knowledge of the matter, adding that …

China’s video game makers come in from the cold as crackdown eases
1 year, 11 months ago

China’s video game makers come in from the cold as crackdown eases

The Hindu  

China's end to a sweeping crackdown on its video games market is expected to breathe life back into the battered industry this year, but remaining restrictions on some content and economic headwinds will limit the extent of the recovery. Shares of Tencent, the world's largest gaming company, and NetEase rose this week after China's video games regulator granted the first …

Tencent revenue falls for first time since going public
2 years, 4 months ago

Tencent revenue falls for first time since going public

Hindustan Times  

Chinese tech giant Tencent on Wednesday posted its first drop in quarterly revenue since going public, as the company grapples with China's economic downturn, pandemic disruptions and ongoing scrutiny from regulators. Tencent also cut around 5,500 jobs down to 110,715 employees by the end of June, the first quarterly decline in workforce since 2014. Tencent said China's domestic gaming market …

Alibaba and Tencent stocks plunge after latest fines
2 years, 6 months ago

Alibaba and Tencent stocks plunge after latest fines

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Shares of Chinese technology firms …

Tencent profit halves as crackdown, COVID-19 weigh
2 years, 7 months ago

Tencent profit halves as crackdown, COVID-19 weigh

Al Jazeera  

The world’s largest video game company said ad sales slumped 18 percent in the first quarter ending March 31. The operator of the WeChat messaging platform and the world’s largest video game company said ad sales slumped 18 percent in the first quarter ended March 31, following a 13 percent drop in the October-December period. In a call with analysts, …

Tencent shuts down video game streaming arm as crackdown weighs
2 years, 9 months ago

Tencent shuts down video game streaming arm as crackdown weighs

The Hindu  

Chinese social media and gaming giant Tencent Holdings will shut down its Penguin Esports unit by early-June, it said on Thursday, as it streamlines its businesses following a regulatory crackdown. Beijing last year blocked the company's attempt to create a $10 billion videogame streaming behemoth through the merger of the market's top two players Huya and DouYu on antitrust grounds. …

Tencent Q4 earnings prompt stock tumble as China crackdown hits growth
2 years, 9 months ago

Tencent Q4 earnings prompt stock tumble as China crackdown hits growth

CNN  

Hong Kong CNN Business — Tencent’s stock suffered a sharp drop after the company reported its slowest-ever growth due to a bruising crackdown by China on the country’s tech sector. Co-founder Pony Ma and president Martin Lau joined an earnings call on late Wednesday and acknowledged that 2021 was a “challenging year” for Tencent and China’s internet industry more broadly. …

China's crackdown on 'powerful' tech giants may be a 'terrible own goal'
3 years, 4 months ago

China's crackdown on 'powerful' tech giants may be a 'terrible own goal'

ABC  

For many years, Jack Ma was the poster child for China's technological rise, until he gave a controversial speech which led to the Communist Party turning him into "public enemy number one". Key points: Alibaba founder Jack Ma is $32.5b poorer after criticising the government His speech is regarded as a "tipping point" for Beijing's wider tech crackdown US-China rivalry …

Tencent vows fresh gaming curbs after 'spiritual opium' attack zaps $60 billion
3 years, 5 months ago

Tencent vows fresh gaming curbs after 'spiritual opium' attack zaps $60 billion

The Hindu  

China's Tencent Holdings Ltd said on Tuesday it would further curb minors' access to its flagship video game, hours after its shares were battered by a state media article that described online games as "spiritual opium". Economic Information Daily cited Tencent's "Honor of Kings" in an article in which it said minors were addicted to online games and called for …

Tencent cracks down on screen time after Chinese state media says gaming is ‘spiritual opium’
3 years, 5 months ago

Tencent cracks down on screen time after Chinese state media says gaming is ‘spiritual opium’

CNN  

New Delhi CNN Business — Tencent has announced new limits on the amount of time minors can spend playing the company’s online games, even as investors worry that China may extend its historic crackdown on the private sector to the gaming industry. Those fears were stoked Tuesday after Economic Information Daily — a business newspaper owned by Xinhua News Agency, …

Tencent, Alibaba, Meituan stocks continue to plunge as China expands its crackdown
3 years, 5 months ago

Tencent, Alibaba, Meituan stocks continue to plunge as China expands its crackdown

CNN  

Hong Kong CNN Business — Chinese tech stocks keep getting slammed with a stunningly massive sell-off that has wiped outhundredsof billions of dollars in market valueas investors continue to digest Beijing’s widening crackdown on private enterprise. Meituan closed down 17.7% in Hong Kong on Tuesday, eclipsing Monday’s massive 14% loss — making it the food delivery firm’s worst two days …

Tencent just got a bit of good news from Chinese regulators on its Sogou deal
3 years, 6 months ago

Tencent just got a bit of good news from Chinese regulators on its Sogou deal

CNN  

Hong Kong CNN Business — Chinese regulators have cleared the way for Tencent to take complete control of Sogou, a major search engine that could help the tech firm take on market leader Baidu. China’s State Administration for Market Regulation said Tuesday that it had “unconditionally approved” the buyout, which will take New York-listed Sogou private. “This merger is powerful,” …

Tencent's $5.3 Billion Video Games Merger Blocked by Chinese Regulator
3 years, 6 months ago

Tencent's $5.3 Billion Video Games Merger Blocked by Chinese Regulator

News 18  

China’s market regulator on Saturday said it would block Tencent Holdings’ plan to merge the country’s top two videogame streaming sites, Huya and DouYu, on antitrust grounds. Tencent first announced plans to merge Huya and DouYu last year in a tie-up designed to streamline its stakes in the firms, which were estimated by data firm MobTech to have an 80 …

Didi, Alibaba, Tencent stocks roiled by worsening crackdown
3 years, 6 months ago

Didi, Alibaba, Tencent stocks roiled by worsening crackdown

CNN  

Hong Kong CNN Business — China is not slowing down with its historic tech crackdown. A bunch of antitrust fines The latest concerns unfolded Wednesday when China’s antitrust regulator fined several internet companies — including Didi, Alibaba and Tencent — over accusations that they violated thecountry’sAnti-Monopoly Law while making mergers or acquisitions over the last 10 years, according to the …

Tencent Q1 earnings: Company puts out strong results, but shares slump
3 years, 7 months ago

Tencent Q1 earnings: Company puts out strong results, but shares slump

CNN  

Hong Kong CNN Business — Tencent is pulling in more money and plans on investing more in games and videos, even as Beijing expands its scrutiny of the tech sector. “People are basically looking for excuses to cash out their stake in the company,” said Hong.“There’s always risk associated with new investments, so some people may want to take money …

Tencent stock: Naspers’ spin-off Prosus sells stake worth $15 billion
3 years, 9 months ago

Tencent stock: Naspers’ spin-off Prosus sells stake worth $15 billion

CNN  

Hong Kong CNN Business — Tencent’s biggest shareholder has sold $14.7 billion worth of shares in the Chinese social media and gaming giant, and will use the money to invest in other growth ventures. Prosus, a spin-offby South African media and internet investment firm Naspers, sold a 2% stake in Tencent for 114.2 billion Hong Kong dollars, the Chinesetech giant …

PUBG Mobile Clocks 1 Billion Downloads and $5.1 Billion Sales, Even Though It Is Banned In India
3 years, 9 months ago

PUBG Mobile Clocks 1 Billion Downloads and $5.1 Billion Sales, Even Though It Is Banned In India

News 18  

Chinese tech giant Tencent said on Thursday its cellphone action game PUBG Mobile has surpassed 1 billion accumulated downloads outside China, making it one of the most successful games worldwide. PUBG Mobile, the mobile version of Playerunknown’s Battlegrounds, in which a group of players fight one another until only a single combatant is left alive, has been hugely popular since …

Tencent boss meets China antitrust officials as scrutiny widens
3 years, 9 months ago

Tencent boss meets China antitrust officials as scrutiny widens

The Hindu  

Pony Ma, the low-profile founder of Tencent Holdings, China's biggest social media and video games company, met with antitrust watchdog officials this month to discuss compliance at his group, three people with direct knowledge of the matter told Reuters. Wu Zhenguo, the head of SAMR's anti-monopoly bureau, who was also at the meeting, expressed concern about some of Tencent's business …

China’s Tencent faces concessions to win green light for giant videogaming merger
3 years, 9 months ago

China’s Tencent faces concessions to win green light for giant videogaming merger

The Hindu  

Chinese internet giant Tencent Holdings Ltd is having to offer concessions in a plan to merge the country's top two videogame live-streaming sites in order to resolve antitrust concerns, two people with knowledge of the matter told Reuters. Tencent is Huya's biggest shareholder with 36.9% and also owns over a third of DouYu, with both firms listed in the United …

Tencent loses $62 billion, wiping out value of fintech business
3 years, 10 months ago

Tencent loses $62 billion, wiping out value of fintech business

Live Mint  

Tencent Holdings Ltd. shares fell a second day on concern regulators are now turning their sights to Pony Ma’s business empire, fueling a $62 billion wipe-out that one brokerage says obliterated most of the value of its online finance business. China’s top financial regulators see Tencent as the next target for increased supervision after the clamp down on Jack Ma’s …

PUBG Mobile Ban: Tencent Has Lost About $34 Billion in Just Two Days
4 years, 4 months ago

PUBG Mobile Ban: Tencent Has Lost About $34 Billion in Just Two Days

News 18  

The recent ban on the popular mobile game PUBG Mobile has hit the Indian gaming community hard, but not as much as the game’s developer Tencent. Apart from PUBG Mobile, Arena of Valor, Chess Run, and Ludo World have also been blocked, all of which have an association with Tencent and are being considered for the company’s dip in the …

PUBG's owner Tencent loses Billions of dollars in market value after India's ban
4 years, 4 months ago

PUBG's owner Tencent loses Billions of dollars in market value after India's ban

Op India  

China’s gaming and social media giant Tencent’s shares crashed by more than 2 per cent on Thursday after India banned its popular gaming app PUBG along with 117 other mobile apps, claiming they were prejudicial to the sovereignty and integrity of the country and posed a threat to the defence, security and public order of India. Tencent becomes one of …

Should You Boycott PUBG Because it is Chinese? Read This And be Surprised it Isn’t
4 years, 6 months ago

Should You Boycott PUBG Because it is Chinese? Read This And be Surprised it Isn’t

News 18  

The ongoing tension between India and China following a recent clash between troops of both the nations in the Galwan Valley of Ladakh, has led to a deep impact in the tech world. Unsurprisingly the ‘boycott rage’ has reached the gaming world, where people are now questioning the origins of the highly popular game PlayerUnknown’s Battlegrounds or better known as …

Is PUBG a Chinese App? India-China Face-Off is Now Testing the Loyalty of Indian Gamers
4 years, 6 months ago

Is PUBG a Chinese App? India-China Face-Off is Now Testing the Loyalty of Indian Gamers

News 18  

After clashes between Indian and Chinese troops in the Galwan Valley in eastern Ladakh on Monday night led to the deaths of twenty of our soldiers, desi Twitter has been on the warpath. The Dilemma of Patriotic Foodies During India-China Tensions READ: Indians are Leaving Nasty Reviews on TikTok, ShareIt, PUBG to Take Revenge Against China Trends on social media …

China imposes online gaming curfew for minors in bid to fight addiction
5 years, 2 months ago

China imposes online gaming curfew for minors in bid to fight addiction

CNN  

Hong Kong CNN — China has announced a curfew on online gaming for minors among new measures aimed at curbing video game addiction. The official government guidelines will be applied to all online gaming platforms operating in the country, mostly notably Tencent, the world’s biggest gaming company. China is the world’s largest gaming market, accounting for a quarter of global …

Tencent: the Chinese tech giant snapping up chunks of Hollywood. But what exactly does it want?
5 years, 4 months ago

Tencent: the Chinese tech giant snapping up chunks of Hollywood. But what exactly does it want?

The Telegraph  

In the classic 1986 action film Top Gun, Tom Cruise – playing a damaged but virtuoso fighter pilot named "Maverick" – wears a bomber jacket emblazoned with the flags of Japan, the United Nations, the USA and Taiwan. The choice of standards made sense: Top Gun's beautiful, quarrelsome flyboys spend much of the minutes of the film fighting an unnamed …

Tencent posted a big profit. But there’s trouble ahead
5 years, 5 months ago

Tencent posted a big profit. But there’s trouble ahead

CNN  

Hong Kong CNN Business — Tencent’s profit jumped 35% in the second quarter thanks to a sharp turnaround in its video game business. Shares in Tencent tumbled nearly 3% in Hong Kong on Thursday after the tech giant reported sales that fell short of analyst expectations and warned that an economic slowdown in China was hurting its advertising business. “China’s …

Tencent Holdings posts 35% rise in net profit thanks to growth in gaming business
5 years, 5 months ago

Tencent Holdings posts 35% rise in net profit thanks to growth in gaming business

Firstpost  

In 2018, Tencent turned in its slowest annual profit growth in 13 years due to a suspension in approvals for new games. Tencent Holdings posted a better-than-expected 35 percent rise in quarterly net profit on Wednesday as growth in its gaming business resumed after a long regulatory freeze in China and its fintech operations saw revenues rise sharply. However, the …

Tencent replaces PUBG with patriotic game in China
5 years, 8 months ago

Tencent replaces PUBG with patriotic game in China

The Quint  

Beijing, May 8 Chinese tech giant Tencent has shut down its famous PlayerUnknown's Battlegrounds mobile game in China after it failed to secure a government license to monitise the game. The company has now replaced PUBG with a government-friendly alternative -- an anti-terrorist themed game named "Heping Jingying" or "Game for Peace" without much violance, TechNode reported on Wednesday. Users …

Tencent takes down PUBG, one of its top video games, in China
5 years, 8 months ago

Tencent takes down PUBG, one of its top video games, in China

CNN  

Hong Kong CNN Business — Tencent has pulled the plug on its wildly popular video game PlayerUnknown’s Battlegrounds in China, a likely victim of government restrictions on gaming. A message posted on the game’s official social media account said the testing period for PlayerUnknown’s Battlegrounds ended on Wednesday. VCG via Getty Images Karen Chan, an analyst with Jefferies, said the …

Tencent profit plunges 32% but its gaming business is recovering
5 years, 9 months ago

Tencent profit plunges 32% but its gaming business is recovering

CNN  

Hong Kong CNN Business — Tencent’s troubles aren’t over yet. Brokerage firm Daiwa said Tencent’s solid gaming business will continue to pull in money, users and overseas players. “We believe the company’s ability to procure quality gaming content in adverse market conditions will drive a recovery in sentiment,” Daiwa analysts wrote in a report published Wednesday. Tencent is still waiting …

Tencent gaming: Regulators finally approve new titles from the Chinese tech giant
5 years, 11 months ago

Tencent gaming: Regulators finally approve new titles from the Chinese tech giant

CNN  

Hong Kong CNN Business — Tencent is back in the game in China. After a nine-month freeze that hammered Tencent ’s stock price, Chinese authorities have started allowing the internet company to make money off new mobile games again. China’s State Administration of Press and Publications began issuing new game licenses late last month, wading into an estimated backlog of …

China lifts ban from second batch of video games, Tencent still not approved
6 years ago

China lifts ban from second batch of video games, Tencent still not approved

Firstpost  

This is the second such list in a fortnight after China gave nod to 80 video games in December. Chinese authorities have greenlit a second batch of video games after a freeze for most of last year, though once again there was no mention of industry leader Tencent Holdings Ltd on the list of approved titles. According to a list …

China approves release of 80 online video games after an eight month freeze
6 years ago

China approves release of 80 online video games after an eight month freeze

Firstpost  

China on Saturday approved the release of 80 online video games after a freeze on such approvals for most of the year. However, the approved titles, listed on the website of the State Administration of Press, Publication, Radio, Film and Television, did not include games from industry leader Tencent Holdings Ltd. China, the world’s biggest gaming market, stopped approving new …

Tencent finally gets some good news on gaming in China
6 years ago

Tencent finally gets some good news on gaming in China

CNN  

Hong Kong CNN Business — Tencent’s gaming nightmare in China appears to be coming to an end. Shares in the Chinese internet giant, the world’s largest gaming company, rose more than5% Friday, after a government official signaled a prolonged freeze on approvals for new games is finally coming to an end. “Approvals for the first batch of games have been …

Tencent music arm debuts on NYSE
6 years, 1 month ago

Tencent music arm debuts on NYSE

China Daily  

Visitors check out Tencent Music Entertainment products at the company's booth during a music show in Beijing. Tencent Holdings Ltd's music arm finally pressed the play button, debuting on the New York Stock Exchange on Wednesday, as part of the tech giant's efforts to diversify its business and seek new growth drivers. Tencent Music Entertainment Group priced its initial public …

Tencent Music IPO ends up at bottom of price range amid rocky markets
6 years, 1 month ago

Tencent Music IPO ends up at bottom of price range amid rocky markets

CNN  

Hong Kong CNN Business — Tencent’s IPO of its music business failed to raise as much money as the internet giant had hoped. Tencent Music, which dominates music streaming in China, said Wednesday that its listing priced at the bottom of its targeted range. Tencent Music’s IPO price will give it a market value of $21.3 billion, according to data …

Tencent aims to hit the right note with IPO
6 years, 1 month ago

Tencent aims to hit the right note with IPO

China Daily  

The stand of Tencent Holdings Ltd's music arm at an industry expo in Beijing. With a combined 800 million monthly active users, Tencent's music subsidiary runs four leading mobile music apps in China, namely QQ Music, Kugou Music, Kuwo Music and mobile karaoke app WeSing. Tencent has a 58 percent stake in TME, while Swedish music streaming peer Spotify Technology …

Tencent in talks to join group bidding for Amer Sports
6 years, 2 months ago

Tencent in talks to join group bidding for Amer Sports

Live Mint  

Hong Kong/London: Internet giant Tencent Holdings Ltd is in talks to join a Chinese investor group pursuing a takeover of Finland’s Amer Sports Oyj, people familiar with the matter said. Tencent, China’s largest social-media company, is considering joining the consortium led by Anta Sports Products Ltd as a minority investor, according to the people mentioned above. Online shopping Roping in …

China’s video game freeze knocks Tencent out of top 10 biggest companies
6 years, 3 months ago

China’s video game freeze knocks Tencent out of top 10 biggest companies

CNN  

New York CNN Business — China’s crackdown on video games has hammered one of its most valuable companies. China is the world’s biggest gaming market, and Tencent is the world’s biggest gaming company. But the uncertainty over when the Chinese government will start approving new game licenses again remains a key problem for Tencent shares, analysts at investment bank Daiwa …

Tencent announces restructuring amidst introduction of tougher govt regulation
6 years, 3 months ago

Tencent announces restructuring amidst introduction of tougher govt regulation

Firstpost  

The reshuffle is followed by a hefty fall in market value for Tencent Holdings this year. Chinese internet giant Tencent Holdings announced on Sunday its first restructuring in six years, done at a time it faces increased challenges from tighter government regulations. The reshuffle comes as Tencent Holdings, which has seen a hefty fall in market value this year, is …

Tencent market value slumps by $20 billion after Chinese crackdown on gaming
6 years, 4 months ago

Tencent market value slumps by $20 billion after Chinese crackdown on gaming

Firstpost  

Chinese Ministry called on parents to limit the time their children spend using mobile phones. Tencent Holdings’ market value slumped by around $20 billion on Friday after China intensified a crackdown on online gaming citing rising levels of myopia, heightening regulatory risks for companies in the world’s biggest gaming market. Tencent has lost more than $160 billion in market value …

Fortnite, Tencent and the fate of world’s biggest game market
6 years, 4 months ago

Fortnite, Tencent and the fate of world’s biggest game market

Live Mint  

Tencent Holdings Ltd., the world’s biggest games company, needs some help from Fortnite, the world’s hottest game. The primary reason: The Chinese government unexpectedly froze the approval of new games, including Fortnite, stunning investors and even Tencent’s management. “It’s unclear how many games are going through this channel and how many will come out," said Daniel Ahmad, an analyst at …

Tencent stuns with first profit drop in a decade
6 years, 5 months ago

Tencent stuns with first profit drop in a decade

Live Mint  

Hong Kong: Tencent Holdings Ltd. joined the ranks of Facebook Inc. by reporting shockingly poor quarterly numbers, underscoring how tech superstars that led the market to new heights are showing signs of strain. Tencent surprised investors with its first profit drop in at least a decade—a consequence of a freeze on game approvals in China that smothered its pipeline. A …

Profit at China's Tencent falls for first time in 13 years
6 years, 5 months ago

Profit at China's Tencent falls for first time in 13 years

The Telegraph  

Chinese technology giant Tencent unveiled its first profit fall in 13 years after a sluggish performance from its mobile gaming division. Tencent, the second most valuable firm listed in Asia and one of the largest constituents of the MSCI Emerging Market index, blamed the slowdown in growth on weak sales of some of its popular gaming titles. The poor performance, …

Tencent’s $143 billion rout is world’s biggest as tech sinks
6 years, 5 months ago

Tencent’s $143 billion rout is world’s biggest as tech sinks

Live Mint  

Hong Kong: If you thought the slump in US technology stocks was bad, take a look at Tencent Holdings Ltd. Tencent, Asia’s second-largest company after e-commerce behemoth Alibaba Group Holding Ltd., has also been dogged by concern that growth in its mobile-gaming unit is slowing. “Investors are increasingly pricing in lower expectations for Tencent’s interim results,” said Linus Yip, a …

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