Tencent has announced its financial results for the year ended December 31, 2022. Let’s focus on the key points and results that the Chinese company achieved in the gaming business.

China has issued a new batch of licenses to publish foreign games for PC, mobile, and consoles. Some of them will be released in the country by Tencent and NetEase.

While Microsoft’s proposed acquisition of Activision Blizzard is under regulatory scrutiny in the West, some Chinese companies have supported the deal. The country’s gaming giant Tencent is reported to be one of them.

China has no plans to ease its regulations aimed at protecting minors from gaming addiction. Tencent has already expressed its readiness to help the government in the new phase of this protracted fight.

Tencent continues to fight corruption within the company. The Chinese gaming and tech giant has fired more than 100 employees over bribery and other violations, also reporting some of them to the police.

Pony Ma, co-founder and CEO of Chinese tech giant Tencent, has delivered an angry address to employees. He criticized almost every division of the company, warning that some of the businesses might be closed in the face of the crisis.

PUBG Mobile has reached another milestone by crossing the $9 billion mark in lifetime revenue. Players have spent another $1 billion on in-game purchases over the last two quarters.

Tencent continues to strengthen its position outside China by investing more money in Western companies. It has now increased its stake in Max Payne and Control maker Remedy Entertainment.

Chinese tech giant Tencent has reportedly started a new round of layoffs. Employees at several key business units, including video games, may soon lose their jobs.

Tencent has been struggling to make a comeback amid ongoing regulatory pressure in China and other macroeconomic factors. As a result, the downfall of the company’s stock continues.

Shawn Layden, the former head of Sony Interactive Entertainment, has joined Tencent Games as a strategic advisor. He will help the Chinese tech giant strengthen its positions in the global games market.

A round of layoffs has hit gaming media outlet Fanbyte, which is owned by Tencent. This comes at a time when the Chinese tech giant is making cuts at its subsidiaries.

Ubisoft CEO Yves Guillemot has opened up Tencent’s recent investment in Guillemot Brothers Ltd. He noted that this deal won’t affect the company’s independence in any way, while also commenting on the latest share price drop.

Ubisoft saw its shares tumble after Tencent announced its decision to invest €300 million in Guillemot Brothers Limited. The news made the company’s investors worried about buyout prospects.

Tencent has invested in over 120 companies in the first half of 2022. It helped the Chinese tech giant become the fourth most active VC firm globally.

Tencent and Sony have announced their decision to buy minority stakes in FromSoftware. The deal will make the Chinese tech giant the second largest shareholder in the Eldend Ring and Dark Souls developer.

A few weeks after announcing his departure from 343 Industries, Nicolas Bouvier has joined AAA studio Team Kaiju. He is another Halo veteran at the new development subsidiary of Tencent’s TiMi Studio Group.

Tencent continues to pursue Western expansion amid ongoing pressure in China. The company has reportedly reached out to the Guillemot family to increase its stake in the Assassin’s Creed maker.

Ashraf Ismail stepped down from a top position at Ubisoft in 2020 following allegations of misconduct. However, it’s been revealed that he quickly managed to find a new job at one of Tencent’s subsidiaries.