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.
When there is a deep valuation discount and pressure from its investors, Naspers can’t really time market tops and must appease with cash handouts instead.
Shares of China’s Tencent fell as much as 2.5% after Prosus and Naspers said they would gradually sell shares in the firm.
Prosus and Naspers plan to sell down the massive 28.9% stake Prosus holds in Chinese Internet giant Tencent.
Tencent has formed an “extended reality” unit, sources said, formally placing its bets on the metaverse concept of virtual worlds.
China’s Tencent will release its flagship mobile game Honour of Kings globally by the end of the year as it pivots to the international gaming market.
Tom Cruise isn’t simply taking on what appears to be Russian-made fighter jets in his remake of the 1986 classic Top Gun: he’s also angering China.
Tencent CEO Pony Ma shared a viral opinion piece slamming China’s weakening economy under stringent Covid Zero measures.