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Tencent Holdings

All articles tagged with #tencent holdings

business1 year ago

Reddit Considers Borrowing Against Social Media Stock Stake

Reddit's stock fell over 7% after reports that Advance Magazine Publishers plans to borrow against its Reddit stake by establishing a $1.2 billion credit facility. This move involves selling shares at a price below Reddit's recent closing value. Despite the drop, Reddit's stock has surged 191% since its IPO in March, driven by a surprise profit in Q3. Separately, Tencent Holdings sold $400 million in Reddit stock, reducing its stake by 28%. Advance remains a major shareholder, having acquired Reddit in 2006.

via Investor's Business Daily|
#advance-magazine-publishers#business#ipo
gaming1 year ago

"Tencent Developing Elden Ring Mobile Game Amid DLC Anticipation"

Reports suggest that a mobile version of Elden Ring, the 2022 open-world RPG developed by FromSoftware, is in development at Tencent Holdings, with the company facing challenges in adapting the game's fundamental design to a free-to-play monetization model similar to Genshin Impact. Tencent, known for its ownership of Riot Games and investments in major gaming companies, is reportedly struggling to find its next hit in the mobile gaming market, following the cancellation of a mobile game based on the NieR franchise in December 2023.

via Kotaku|
#elden-ring#fromsoftware#gaming
gaming1 year ago

Wizards of the Coast Deny Tencent Purchase of D&D Amidst Rumors

Reports of Tencent Holdings potentially buying Dungeons & Dragons from Hasbro with the help of Larian Studios have been denied by Wizards of the Coast, the originator of D&D. The initial claim surfaced from a Beijing-based outlet, suggesting that negotiations were in the early stages due to Hasbro's financial issues. However, Wizards of the Coast has stated that they are not looking to sell the D&D IP and will continue to explore partnerships to provide the best digital experiences for fans.

via Rock Paper Shotgun|
#dungeons-and-dragons#gaming#hasbro
gaming-regulation2 years ago

China Reverses Course on Gaming Crackdown, Sparks Stock Surge

China appears to have reversed its strict gaming regulations, proposed by the National Press and Publication Administration (NPPA), which aimed to limit in-game purchases and playing time. The sudden disappearance of the draft rules from the NPPA website led to a surge in share prices for Chinese gaming companies like Tencent Holdings and NetEase. However, uncertainty still looms over the gaming sector as analysts remain unsure about the government's next steps, prompting Chinese developers to shift their focus towards overseas games.

via BBC.com|
#china#gaming-crackdown#gaming-regulation
gaming2 years ago

China's Gaming Restrictions Send Tencent and NetEase Stocks Plummeting

Chinese regulators have introduced new rules aimed at curbing spending and rewards in the gaming industry, dealing a blow to the world's largest games market. The rules include setting spending limits for online games and banning certain reward mechanisms. Shares in Tencent Holdings and NetEase, two of China's biggest gaming companies, plummeted in response to the announcement. Beijing has been increasingly strict on video games, implementing playtime limits for minors and suspending new game approvals. The new rules are the most explicit regulations yet and also address concerns over user data. Despite the crackdown, China's gaming industry saw a return to growth in 2022 after a decline in revenue the previous year.

via Reuters|
#china#gaming#gaming-regulations
business2 years ago

Tencent Challenges NetEase in Gaming Showdown with Dream Star

Tencent Holdings is relying on its former rival ByteDance to promote its new mobile party game, "DreamStar," in a bid to challenge NetEase's successful game, "Eggy Party." Despite their history of lawsuits and rivalry, Tencent has chosen to advertise DreamStar on ByteDance's popular platforms, including its online ad service Pangolin. Analysts predict DreamStar could earn up to 6 billion yuan in its first year, while Eggy Party is expected to earn 8 billion yuan for NetEase this year. Tencent's decision to heavily rely on ByteDance's advertising platforms is part of its strategy to defend its position as China's biggest gaming firm and ensure the success of DreamStar.

via Reuters|
#advertising#business#bytedance
technology2 years ago

Meta partners with Tencent to bring VR headset back to China after 14 years

Meta Platforms has reached a preliminary deal with Tencent Holdings to sell a low-cost virtual-reality (VR) headset in China, where Facebook and Instagram are blocked. Tencent will become the exclusive seller of Meta's headsets in China, starting in late 2024. The deal allows Meta to re-enter the Chinese market and compete with Bytedance, the owner of TikTok. The headset, which will feature cheaper lenses than Meta's Quest 3, will also be sold in other markets. Meta will receive a larger share of device sales, while Tencent will earn more from content and service revenue.

via Reuters|
#china#meta-platforms#social-media
business2 years ago

China Concludes Tech Crackdown with Massive Fines on Tencent and Ant Group

China has imposed fines of over $1 billion on tech giants Ant Group and Tencent Holdings, signaling an end to the sector's crackdown that had caused significant market value losses and derailed Ant's planned IPO. The fines, imposed by the People's Bank of China, are seen as manageable for the companies and have boosted investor confidence, leading to a surge in stock prices. The move is seen as a positive signal for the industry and may pave the way for Ant to revive growth and eventually pursue its IPO plans.

via Yahoo Finance|
#ant-group#business#china
business2 years ago

Abu Dhabi-backed firm invests $740 million in China's Nio, Tesla's rival.

Abu Dhabi-backed CYVN Holdings will invest $738.5 million in Chinese electric vehicle maker Nio Inc, which will issue about 85 million new Class A shares at $8.72 per share to CYVN Holdings. Upon closing of the deal, CYVN will own a 7% stake in Nio and will be able to nominate one director to Nio's board. Nio's cash and cash equivalents fell to 14.76 billion yuan ($2.15 billion) in the first three months of the year from 19.89 billion yuan at the end of the fourth quarter of 2022.

via Reuters|
#abu-dhabi#business#electric-vehicles