All publications by tag «Tencent»
Investors concerned that China’s government might split up Tencent into separate companies
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 reports gaming revenue of $32 billion for 2021, showing slowest growth since going public
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 faces tens of millions of dollars in fines for violating China’s anti-money-laundering law
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.
Remedy signs development and distribution agreement with Tencent for online shooter Vanguard
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.
China’s regulator allows Tencent to update nine apps again, just three weeks after crackdown
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 becomes Bloober Team’s largest shareholder by acquiring 22% of its shares for $19.5 million
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.
miHoYo partners with Tencent, which reportedly agreed to reduce fees for Genshin Impact
Genshin Impact has been finally released on Tencent’s Android store. According to the latest reports, miHoYo reached a cooperation with the Chinese tech giant. It includes not only different promotional activities but also a reduced commission.
Harry Potter: Magic Awakened rakes in $22.7M in its first week, dethroning Tencent from top spot on China’s iOS revenue chart
Harry Potter: Magic Awakened, which is co-developed by Portkey Games and NetEase, launched in mainland China on Sep 9 to claim the top spot on the country’s iOS revenue chart.
Publisher MyGamez on China’s game licensing slowdown news: “High likelihood this is just a groundless rumour”
Publisher MyGamez, which helps Western mobile devs launch their games in China, has commented on last week’s report that the Chinese government slowed down approval for all new online games.
Chinese authorities order video games companies to remove content “breeding unhealthy tendencies” such as ambiguous representations of sexuality
In yet another curb on China’s video games industry, the country’s authorities told Tencent and NetEase to remove ambiguous representations of sexuality and identity from games. Content glorifying wealth should also be removed.
Tencent’s complicated relationship with Chinese government and media cost it $400 billion in market value
Tencent saw its market cap drop almost twice since the beginning of the year. It is all happening in the wake of new regulations from the Chinese government that has a long history of love-hate relationship with the games industry.