For early backers, including Naspers, they’ve been some of the most profitable Chinese stock investments of all time.
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Tencent Holdings logged its first-ever decline in quarterly revenue, becoming the latest victim of a worsening Chinese economy.
China’s Internet giants have shared details of their prized algorithms with Beijing for the first time, an unprecedented move.
Just 18 months ago, Tencent Holdings was on the cusp of becoming Asia’s second trillion-dollar company. No more.
A plan by Tencent’s major backer, Naspers-controlled Prosus, to further cut its stake in the company fuelled concerns among investors on Tuesday.
Tencent CEO Pony Ma shared a viral opinion piece slamming China’s weakening economy under stringent Covid Zero measures.
Chinese tech stocks tumbled as weak corporate earnings coupled with a dimming global growth outlook intensified selling.
Tencent’s revenue missed estimates after a sweeping government crackdown and Chinese economic malaise wiped out growth at the Internet behemoth.
Share buybacks are emerging as the hottest trend among Chinese tech giants and industry leader Tencent Holdings may be the next to jump on the bandwagon.
Chinese authorities are considering requiring Tencent to include WeChat Pay in a newly created financial holding company.