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The Latest Breaking News from Tencent Holdings Ltd

Tech Brief (March 19): Nvidia Restarts Production of H200 Chips for China

Tencent annual profit rises 16%, Alibaba Cloud raises prices for AI computing and storage products

Caixin Global

Will Tencent Holdings Regain Favor Among Investors?

After plunging to a 6-year low in October 2022, Tencent Holdings Ltd (TCEHY ) rallied to a 17-month high in January. However, the stock has since moved sideways as the company has fallen out of favor with Chinese investors. According to Bloomberg data, onshore investors have sold Tencent Holding shares...

Barchart

China Approves 88 Games in January, Including Titles by Tencent and NetEase

China's video games regulator on Tuesday granted publishing licenses to 88 online games, including titles belonging to Tencent Holdings Ltd , NetEase Inc and miHoYo. Shenzhen-based Tencent, the world's largest gaming company, received at least one game license for a mobile game named "Yuanmengzhixing", the list published by the National…

Asharq Al-Awsat

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China’s government to take golden shares in Alibaba, Tencent

BEIJING: Chinese government entities are set to take so-called “golden shares” in units of Alibaba Group Holding Ltd and Tencent Holdings Ltd, suggesting Beijing is moving to ensure greater control over key players in the world’s largest internet arena.

The Times of India

Tencent Buys $264M Stake In Walmart's Indian Unit

Chinese tech conglomerate Tencent Holdings Ltd. (OTC: TCEHY) has bought a $264 million stake in Walmart Inc (NYSE: WMT)-owned Indian e-commerce firm Flipkart, Press Trust of India

Benzinga

Why Alibaba, Nio, Most Chinese Peers Are Stumbling In Hong Kong Today

Shares of U.S.-listed Chinese companies were trading mixed in Hong Kong on Friday morning, with major tech names like Alibaba Group Holding Ltd (NYSE: BABA), Tencent Holdings Ltd (OTC: TCEHY), and Baidu Inc

Benzinga

Inspired By Alibaba, Tencent Goes Global As Regulatory Crackdown In China Continues To Bite

Tencent Holdings Ltd (OTC:TCEHY) looks to unleash its flagship mobile game "Honor of Kings" globally by the end of 2022, Reuters reports. Tencent will launch the international version under its Singapore-based brand Level Infinite, formed in 2021 to help games globally. "Honor of Kings," with over 95% of its users in China,…

Benzinga

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'Lawyers Are On It:' Fortnite Developer Dubs Crypto Project A 'Scam'

Tim Sweeney, the CEO of Tencent Holdings Ltd (OTC: TCHEY) owned Epic Games, has labeled the Fornite Token (FNT) “a scam.”

Benzinga

Tencent To Block Chinese Gamers' Access To Foreign, Unapproved Games: Reuters

Tencent Holdings Ltd (OTC:TCEHY) looks to shut down a service that allowed Chinese gamers to access overseas platforms to play unapproved foreign games reflecting the growing regulatory crackdown, Reuters reports. The report noted Tencent aims to update its games speed booster mobile and desktop apps to new versions on May 31 to…

Benzinga

Alibaba Undergoes Aggressive Restructuring At Its Cloud Unit

Alibaba Group Holding Ltd (NYSE:BABA) owned Alibaba Cloud initiated a new round of organizational restructuring, the Pandaily reports. Alibaba Cloud China President Ren Geng resigned for undisclosed reasons. Geng looked to leave as early as 2021 but stayed back. Also Read: Alibaba Looks To Slash Workforce By 30% After Its MMC Division Decides…

Benzinga

China Starts Issuing Videogame Licenses Again: WSJ

China’s videogame regulator has started granting publishing licenses to new titles, ending a months-long freeze in the world’s largest mobile game market, the Wall Street Journal reported. The country stopped issuing licenses in July 2021, after Beijing tightened rules on the industry. The report noted approved 45 videogames last week, including…

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

Tencent To Bring Down Curtains On Game Streaming Service

Tencent Holdings Ltd (OTC:TCEHY) looks to shut down its game streaming service citing a shift in its business strategy, Bloomberg reports. The streaming platform, called Penguin Esports, will terminate all services on June 7 after having already suspended new user registrations and in-app purchases. Tencent looks to compensate users by giving away…

Benzinga

Tencent's WeChat Suspends NFT Accounts To Appease Chinese Regulators

Tencent Holdings Ltd's (OTC:TCEHY) WeChat messaging app suspended some non-fungible token accounts to comply with China's regulatory bindings, CNBC reports. Tencent also rectified the public accounts on WeChat to prevent speculation risks in digital currency transactions. WeChat clarified that the official accounts verified by Tencent can display digital collectibles but cannot offer…

Benzinga

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Benzinga

Here's Why Alibaba, Tencent Look To Tighten NFT Norms

Citizens have to register with their real name to purchase NFTs and can only via Chinese Yuan. Chinese internet giants Tencent Holdings Ltd (OTC:TCEHY) and Alibaba Group Holding Ltd (NYSE:BABA) tightened specific rules on their respective NFT marketplaces to avoid further regulatory repercussions, CoinGape reports. Alibaba’s platform Jingtan looked to report users using bots or…

Benzinga

Tencent Clocks 8% Revenue Growth In Q4; Looks To Focus On Core Businesses

Tencent Holdings Ltd (OTC:TCEHY) reported fourth-quarter FY21 revenue growth of 8% year-on-year to 144.2 billion yuan ($22.6 billion). Revenues from VAS increased by 7% Y/Y to 71.9 billion yuan, and Online Advertising decreased by 13% Y/Y to 21.5 billion yuan. Revenues from FinTech and Business Services increased by 25% Y/Y to 48 billion…

Benzinga

Here's Why Alibaba's Stock Didn't Get a Boost Despite Big Share Buyback: Bloomberg

Alibaba Group Holding Ltd (NYSE:BABA) shares traded 60% below the 2021 peak despite a $9 billion share buyback boost, Bloomberg reports. The boost marked the third increase since China's domestic tech crackdown started in late 2020. After the buyback announcement, Alibaba's shares jumped up to 9.8% to HK$108.80 in Hong Kong, trailing the February…

Benzinga

Tencent Caught In Regulatory Turmoil Like Jack Ma's Ant Group

China looks to require Tencent Holdings Ltd (OTC:TCEHY) to include WeChat Pay in a newly created financial holding company, Bloomberg reports. The overhaul may mandate a new license for the universal mobile payments service subjecting it to intense regulatory scrutiny jeopardizing the one-stop-shop appeal reviving investor angst. Tencent needs to fold its banking, securities, insurance,…

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Benzinga

Tencent's Social Media Removes Posts Questioning China's Strong Economic Data

Tencent Holdings Ltd's (OTC:TCEHY) social media site WeChat deleted at least two reports by notable economists questioning China's surprisingly strong economic data, Bloomberg reports. JD.com Inc (NASDAQ:JD) chief economist Shen Jianguang argued over multiple contradictions behind the robust data. Tencent also removed a similar post by China Evergrande Group's former chief economist Ren…

Benzinga

Alibaba Looks To Slash Workforce By 30% After Its MMC Division Decides To Lay off 20% Employees

Alibaba Group Holding Ltd (NYSE:BABA) and Tencent Holdings Ltd (OTC:TCEHY) employees saw a job cut of 30%, the Print reports as per speculation on Weibo Corp (NASDAQ:WB). Internal speculation among employees was that Alibaba looked to lay off 30% of its employees while Tencent between 10% - 30% of its employees. Tencent started layoffs within small business…

Benzinga

'That's A Buy Signal': Why Kevin O'Leary Just Bought Alibaba, Tencent And Meituan Stock

Chinese stocks are trading significantly lower Monday amid a COVID-19 outbreak in China's manufacturing hub, developments between China and Russia in relation to war and regulatory scrutiny of Tencent Holdings Ltd (Pink: TCEHY).

Benzinga

After Alibaba, Tencent Could Attract Regulatory Penalty

The People’s Bank of China discovered Tencent Holdings Ltd (OTC:TCEHY) is guilty of violating some central bank regulations by its WeChat Pay mobile network, the Wall Street Journal reports. Regulators could subject Tencent to a penalty worth at least hundreds of millions of yuan. The central bank’s routine inspection of 2021 found WeChat…

Benzinga

Sea CEO Emails Employees Post Humongous Plunge In Market Value

Sea Ltd (NYSE:SE) CEO Forrest Li recently acknowledged its $150 billion value loss since late 2021 to its employees via email, Bloomberg reports. Citing the meltdown as short-term pain, Li instilled hope by admitting its strong internal position and clarity over its next steps. Li defended the decision of continued growth spending…

Benzinga

Alibaba Looks To Trim Work Force By Up To 20%

Alibaba Group Holding Ltd (NYSE: BABA) and Tencent Holdings Ltd (OTC: TCEHY) are looking to mass layoffs,

Benzinga

Tencent Follows Alibaba; To Slash Transaction Fees For SMEs

Chinese social media firm Tencent Holdings Ltd (OTC:TCEHY) looks to reduce transaction fees for small and medium-sized merchants using its WeChat payments system by 10%, Reuters reports. The reductions will apply beginning September 1, 2021, and extend to September 30, 2024. The merchants need to meet China's classification standards for small and medium-sized…

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