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The Latest Breaking News from Pony Ma

China's Tencent Sees Profits Surge As AI Drive Accelerates

Chinese internet and gaming giant Tencent said on Wednesday that profits in the fourth quarter of 2024 surged 90 percent as the firm accelerates a push into artificial intelligence (AI).

International Business Times

China's Xi promises policy stability at meeting with business leaders, including Alibaba's Jack Ma

China’s President Xi Jinping has met with private sector business leaders, offering them assurances that policies regarding the private sector would not change, state media reported

The Independent UK

Is life getting better for China’s tech billionaires?

According to the latest Bloomberg Billionaires Index, Pony Ma, co-founder of Tencent Holdings, is once again China’s richest person, now with a net worth of more than A$65 billion, placing him 27th globally.

The Conversation

From analysis to the latest developments in health,
read the most diverse news in one place.

Elden Ring mobile game is reportedly on the way

The new version is expected be free to use, with in-app purchases extending its playability

Evening Standard

Pinduoduo founder Colin Huang surges past Alibaba's Jack Ma to become China's third-richest person

Huang rose seven places on Hurun's annual list of China's wealthiest people, thanks to surging business at both Pinduoduo and Temu.

Fortune

China’s tech old guard make way for young blood in AI, crypto era

Beijing is seeking to assure tech sector that crackdown has passed amid questions about direction of regulatory policy.

Al Jazeera

Tencent CEO Pony Ma blasts employees for laziness, not cutting costs

Tencent, the world's largest game developer, has had to survive a crackdown in China and a slowing global game market.

Fortune

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China's super-rich see fortunes plunge as economy slows

China's super-rich saw their wealth tumble by the most in over two decades this year, as the Russia-Ukraine war, Beijing's zero-COVID measures and falling mainland and Hong Kong stock markets pummelled fortunes, an annual rich list said on Tuesday.

Reuters

Chris Xu: Who is Shein’s mysterious billionaire founder?

Very little is known about China’s king of fast fashion who has rapidly become one its richest men

The Guardian - UK

Tencent Stops Assuring Pay Hike On Promotion As Part Of Its Cost Cutting Measure

Tencent Holding Ltd (OTC:TCEHY) stopped guaranteeing a pay raise upon promotion amid a more comprehensive cost-cutting drive, Reuters reports. However, Tencent assured an annual salary review to consider an individual's contribution and performance. The policy change reflects the changing circumstances of China's technology giants, hit hard by a bruising regulatory crackdown and a slowing…

Benzinga

Is Tencent Past the Worst as Government Sends Easing Signals?

Key Takeaways: Tencent reported its first quarter profit fell 22.9%, but the market believes the worst is past after Beijing’s recent end to its freeze on new game approvals

Benzinga

Here's How 2022 Chinese Election Could Act As Tailwind For Alibaba And Others

Chinese President Xi Jinping reached out to the domestic private sector amid the growing economic challenges, the CityToday reports. Jinping highlighted the importance of private capital to economic development while emphasizing their adherence to the regulatory norms at a recent Politburo meet. The private sector generated over 50% of China's tax…

Benzinga

Why This Chinese Internet Giant's Top Execs Took A Deep Pay Cut In 2021

Chinese technology, media and entertainment conglomerate Tencent Holdings Limited (OTC: TCEHY) is among the high-profile companies in the country to fac

Benzinga

China Cracks Down Upon Tencent, Other Tech Giants Over Algo Abuse; Questions Alibaba, Others To Address Job Cuts

China looks to rein in the potential abuse of algorithms by internet giants from ByteDance Ltd to Tencent Holdings Ltd (OTC: TCEHY), Bloomberg reports. The Cyberspace Administration of China looks to inspect how social media platforms serve up ads and content to hook users, especially the large-scale websites, platforms, and products with significant influence.…

Benzinga

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Benzinga

Here's What Happened Between China Regulator And Alibaba, Tencent

The Cyberspace Administration of China (CAC) said its official publication had carried out interviews with companies like Tencent Holdings Ltd (OTC:TCEHY), Alibaba Group Holding Ltd (NYSE:BABA), and TikTok parent ByteDance, Reuters reports. The interviews followed the January 28 meeting held with 27 firms to discuss "healthy and sustainable" development. Tencent founder and CEO Pony Ma…

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