Tencent Holdings posted earnings that surpassed all analyst estimates as one-time gains and advertising demand limited the impact of a government clampdown on its lucrative games business.
The Chinese Communist Party’s vision of a Web where governments pull the strings could wind up the model for the next billion users.
Ever since Chinese President Xi Jinping marked the opening of the first World Internet Conference in 2014, it was meant to usher in a new era of digital openness and project China as a champion of global cyber governance. Those promises are now starting to lie fallow.
Naspers affiliate Tencent will expand its age-verification system to encompass its entire games line-up, an unprecedented undertaking in response to growing criticism it encourages addiction among youngsters.
China’s regulators have ended the issuance of game licences through a stopgap approval process, closing the last known official path for making money from new titles in the world’s biggest gaming market.
Naspers is planning to increase its stake in Indian online food delivery business Swiggy as the start-up plots its third fundraising round of the year, according to people familiar with the matter.
Two hip, young start-ups are set to become the latest challenge to Tencent just as China’s dominant social media company struggles with shrinking margins and slowing growth.
MultiChoice said on Monday that it is adding the Joox VIP streaming music service as a free value-add to DStv Premium, Compact and Compact Plus subscribers.
Is it time to catch the global stock market’s biggest falling knife? For watchers of Tencent Holdings, whose largest shareholder is South Africa’s Naspers, it’s an increasingly pressing question.
Even for the world’s worst performing stock markets, Thursday’s losses were extreme. China’s benchmark equity gauge closed 5.2% lower, the biggest loss since February 2016, as a global selloff spread.