Chinese tech companies have been conducting staff cuts, according to the latest reports. Tencent is one of the firms to lay off employees at several departments amid regulatory pressure and the impact of the latest lockdowns.

Tencent has released its financial report for the first quarter of 2022 (ended March 31). The Chinese tech giant recorded no revenue growth, citing a decrease in its domestic player base due to the latest game-related restrictions in the country.

PUBG Mobile has reached another milestone, reaching over $8 billion in lifetime revenue. Tencent-developed battle royale remains one of the biggest mobile games in the world.

Tencent has shared the results of its efforts to create the so-called healthy gaming environment. The Chinese tech giant noted how the latest restrictions implemented last year helped reduce total time spent by minors in its titles.

Prominent game designer David Jaffe, known for his work on series like God of War and Twisted Metal, has claimed that Tencent once wanted him to direct a game with a $100 million budget. However, he refused to partner with the Chinese tech giant.

Tencent has announced a few changes to its apps for boosting internet speed. This move will block Chinese gamers’ access to many foreign titles, which weren’t approved by the government.

data.ai has revealed the winners of its Top Publisher Award 2022, sharing a list of 52 companies ranging by global consumer spend over the last year. The ranking includes publishers like Tencent, Activision Blizzard, miHoYo, and NetEase.

Tencent has paid more than $200 million to two of its executives in 2021. The Chinese tech giant, which saw its stock decline in the wake of Beijing’s crackdown on the games industry, didn’t disclose these employees’ names.

Return to Empire has broken into the top 10 highest-grossing games on iOS in the first 24 hours since its launch in China. It is a mobile version of Age of Empires available exclusively in the country.

Tencent has been facing a lot of restrictions from Chinese authorities during the last few years. In the wake of the ongoing tensions, investors are concerned that the government might want to break up the tech giant.

Tencent has released its report for the fiscal year ending December 31, 2021. The tech giant still remains the largest game company by revenue, although domestic restrictions continue to slow down its growth.

Tencent continues to buy stakes in Western game companies. The Chinese tech giant now has a minority ownership of Studio MayDay, which is now working on two games.

The regulation of tech companies in China is getting tougher as Tencent is now facing a potential fine for breaching the central bank’s compliances. It is suspected of allowing money-laundering schemes using WeChat.

Tencent continues its Western expansion by acquiring Canadian studio Inflexion Games from its previous owner Imporable. The team is developing Victoriana-inspired game Nightingale.

Remedy Entertainment has signed a development, license, and distribution agreement with Tencent. The Chinese giant will co-finance the production of PvE shooter codenamed Vanguard and localize it for the selected Asian markets.

Tencent has managed to partly settle its tensions with the Chinese regulators. Although the tech giant will be able to release updates for several mobile apps from its catalog, it is unclear whether the restriction on the release of new products will remain valid.

Tencent’s deal to buy Sumo Group for $1.27 billion has come under scrutiny. The acquisition is now being investigated by the US national security probe.

Tencent has bought a 6.86% stake in Kadokawa, Japanese publishing giant and parent company of From Software. It is the biggest game-related deal in the country for the Chinese tech giant.

Tencent continues to invest in Western developers by acquiring  21.97% of Bloober Team shares for PLN 77.6 million ($19.5 million). The deal makes the Chinese tech giant the biggest shareholder of the Polish studio.