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Tencent
Tencent
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"Black Myth: Wukong" sold 10 million copies globally in four days, exceeding 3 billion yuan in revenue. The game achieved record-breaking online player numbers, surpassing "Cyberpunk 2077" and "Counter-Strike 2." It significantly impacted cultural tourism and merchandise sales, and showcased China's potential in the AAA game market, despite challenges in global publishing and localization.
Sep.7 2024 13:52 PM
China’s internet rivals begin to break down barriers around their online ecosystems
Sep.5 2024 04:14 AM
Dungeon & Fighter proves a knockout as China’s most valuable company sees net income surge 82%
Aug.15 2024 03:29 AM
The Chinese internet giant’s shares have rallied 28% so far this year with help from the strong debut of Dungeon & Fighter Mobile
Jun.28 2024 15:17 PM
Dungeon & Fighter Mobile had more than twice as many sales as Honor of Kings, China’s longstanding bestseller
Jun.25 2024 03:22 AM
JD Health pulls ‘family doctor’ services and overhauls corporate structure after a sharp fall in first quarter profit, China eases rules that could slow world-beating solar boom
May.31 2024 13:45 PM
Yuanbao allows users to perform tasks such as AI searches, document summarization and the creation of personalized AI entities
May.31 2024 04:45 AM
- Chinese internet giants like Tencent, Alibaba, and ByteDance are breaking down competitive barriers and collaborating in areas such as gaming, advertising, and office software amidst regulatory encouragement for "wall-breaking" to foster a more interconnected digital ecosystem. This shift comes as companies face economic pressures, stricter regulations, and the need to focus on core businesses for sustainable growth.
- The internet sector is experiencing a slowdown with traditional high-growth areas like e-commerce and advertising under pressure due to macroeconomic challenges and changing consumer behaviors. Companies are refocusing on their main revenue drivers, shedding less successful ventures, and streamlining operations to adapt to the new market realities.
- Despite overall market challenges, platforms like Pinduoduo and ByteDance's TikTok (and its e-commerce platform Temu) have shown remarkable growth by capitalizing on low-price strategies and international expansion. This has led other companies to adjust their strategies towards more cost-effective offerings and explore new opportunities for growth outside of China.
Apr.13 2024 12:44 PM
The internet giant reported 27 billion yuan in net profit on 155 billion yuan in revenue for the December quarter, missing analyst estimates for both
Mar.21 2024 20:18 PM
- Chinese AI startups AiShi Technology and Shengshu Technology announced new funding rounds to develop video generation models aiming to match OpenAI's Sora, amidst a cautious approach from major Chinese tech companies due to technological gaps and resource constraints.
- Sora, a significant leap in AI video generation by OpenAI, generates videos from text prompts, showcasing advanced understanding and realism. Despite its potential, the high computational cost and unclear commercial applications make widespread adoption challenging.
- While Chinese firms express ambitions to catch up with or surpass Sora, challenges include the high demand for computational power and the lack of foundational models like LLaMA in language AI. The landscape suggests a cautious investment environment compared to the initial enthusiasm for ChatGPT.
Mar.16 2024 14:54 PM
- Huawei launched the new foldable smartphone Pocket 2 in Sanya, announcing a major update to its HarmonyOS for fall 2024, aiming for a 30% performance boost in devices including Pocket 2.
- HarmonyOS is set to become independent from Android, with a developer Beta version planned for Q2 2024 and a commercial version for consumers in Q4 2024. This move follows sanctions that restricted Huawei's access to Google's Android OS.
- Despite challenges and competition, Huawei's push for HarmonyOS aims to create an independent ecosystem, potentially boosting its market share and creating millions of jobs. The transition involves significant efforts from app developers and collaboration with educational institutions to train HarmonyOS developers.
Mar.9 2024 14:05 PM
WeChat users can now join meetings on DingTalk without registering as blocks between platforms begin to disappear
Mar.6 2024 04:20 AM
- A former Pinduoduo employee, Lu Zhi, faced a lawsuit from the company for violating a non-compete agreement by joining another internet company within the restricted period, despite having worked at Pinduoduo for only eight months and receiving a relatively low compensation.
- Non-compete agreements are widely used in the competitive internet industry to prevent leakage of business secrets. However, there's growing concern over their expansive application beyond senior management and technical staff to include almost all employees, potentially abusing the system and hindering talent mobility.
- Legal experts and HR professionals debate the fairness and scope of non-compete clauses, with some arguing they've strayed from their original intent to protect business secrets and now serve more as a restriction on employees' career moves. Recent legal guidelines aim to balance protecting business secrets with ensuring freedom of employment and reasonable talent flow.
Mar.2 2024 12:54 PM
- Despite China's efforts to boost inbound tourism, foreign visitors face challenges with mobile payments, credit card acceptance, and complex registration processes for accommodations and attractions.
- China has relaxed visa policies and introduced unilateral visa exemptions for several countries to facilitate travel, but the recovery of inbound tourism is slow due to lingering effects of the pandemic and anti-globalization sentiments.
- Inbound tourism in China is hindered by a lack of international flights, high ticket prices, outdated group tour products, and insufficient promotion to younger global audiences.
Jan.20 2024 13:44 PM
Tesla cuts prices in China, Tencent-ByteDance ceasefire holds with livestream deal
Jan.16 2024 19:42 PM
- Cecilia Skingsley, head of the BIS Innovation Hub, faced payment difficulties in Beijing due to the prevalence of QR code payments and the decline in cash and card acceptance.
- China's mobile payment adoption rate is 86%, leading globally, but foreign visitors struggle with QR code payments due to registration barriers and privacy concerns.
- The People's Bank of China is addressing these issues by promoting card acceptance, improving mobile payment services for foreigners, and ensuring cash as a backup option.
Jan.13 2024 13:14 PM
Technology giant Tencent buys back shares as surprise changes in gaming regulations triggers global selloff
Jan.5 2024 06:13 AM
Shares of the Chinese gaming giant and smaller rival NetEase slide in early trading in Hong Kong before recovering
Jan.3 2024 13:51 PM
- China's gaming industry faces stricter regulations with the release of a draft by the National Press and Publication Administration (NPPA) aiming to limit excessive gameplay, high spending, and "loot box" mechanics. The announcement caused significant market turmoil, with major companies like Tencent and NetEase experiencing sharp stock price declines.
- The draft includes measures such as setting spending limits for all players (not just minors), prohibiting certain reward mechanisms that encourage daily logins or continuous spending, and restricting the sale or rental of game approval numbers. It also extends regulation to virtual currency transactions, requiring real-name registration using digital RMB wallets.
- The gaming industry is adjusting to these new regulations by revising product features and considering changes in project development. While some companies have responded positively to the draft's intentions, there are concerns about conflicts with business models and revenue sources. The industry is also undergoing consolidation, with companies focusing on core projects and reducing investment in new developments.
Dec.30 2023 13:35 PM
Approvals include those run by Tencent and NetEase, two leading publishers whose shares have been pummeled by Beijing’s new rules
Dec.25 2023 17:46 PM
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