Since October, nearly 20 small and medium-sized digital collection platforms in China have issued announcements regarding scale-backs and liquidations, citing industry risks, low growth rates, stagnated development and other reasons.
On November 15, data.ai, a third-party data organization, published the income list of Chinese game manufacturers in overseas markets for the month of October. 37 Interactive Entertainment surpassed Tencent, miHoYo and other game manufacturers for the first time, ranking first.
On November 16, Tencent released its financial report for the third quarter of 2022, and announced its decision to distribute most of its shares in Meituan, which will be completed in March next year. Tencent President Martin Lau has resigned as a non-executive director of Meituan.
One of China's official media outlets published an article entitled "the opportunity in the gaming industry cannot be missed". The news sent stock prices of Chinese game makers in Hong Kong shooting upwards.
One of Tencent's investment affiliates recently took a stake in ShenZhen Tenways Technovation Limited, a manufacturer of electric bicycles. The registered capital of the company increased 38.8%.
According to an official document released on October 27 by China's State Administration for Market Regulation (SAMR), internet giant Tencent and state-owned telecommunications operator China Unicom have gained unconditional approval to establish a joint venture following the completion of a review on October 18.
News emerged on October 31 that a consortium headed by CITIC Group, one of China's largest conglomerates, was in discussion with Naspers, a major shareholder of Tencent, to acquire its shares in full. Naspers' subsidiary Prosus later responded, calling the report "speculative and untrue."
The decision in regard to Tencent's lawsuit against Douyin for video infringement was announced. Douyin needs to delete, filter and intercept related video clips on the platform about the soap opera named "The Worm Valley", and compensate Tencent for more than 32.4 million yuan ($4.38 million).
TMELAND, the first virtual social music platform under Tencent Music Entertainment, opened a new metaverse zone for fans on October 24 during the Coca-Cola Fan Festival through WeChat mini programs in China.
On October 24, news emerged that China Mobile, a multimedia service provider through its nationwide mobile telecommunications network, might take a stake in Chinese tech giant Tencent, which was subsequently denied by Tencent.
Chinese smartphone users have recently discovered a new function within Alipay, Ant Group's payment platform, allowing them to transfer funds to contacts on Tencent's WeChat app. Many netizens said that the function is not as simple as it sounds, and evaluation has been mixed.
The official website of ByteDance-owned online social platform Feiliao has recently been shut down and download channels have been closed, although any official suspension announcement has yet to be made.
Tencent's versatile social media platform WeChat has recently launched a new mini-program enabling palm print payment, giving users yet another way to settle transactions in addition to passwords, fingerprints and facial recognition.
On October 12, Tencent’s share price fell below HK$250, hitting a new low since November 2018. It fell more than 60% from its historical high at the beginning of 2021 and now only has a market value of only HK$2.43 trillion.
Sogou, a Chinese tech firm acquired by Tencent last year, has launched a youthful community-based social product called "Miaogeng." On this platform, users can create texts and pictures around trending topics and buzzwords, deploying emojis to express their emotions.
Fintech platform Airwallex on October 11 announced that it has recently closed E2 Series financing, garnering $100 million. Its total funding amount increased to more than $900 million, with the same $5.5 billion valuation.
Device as a service (DaaS) provider Bear Rental's parent company, LX Technology, passed a hearing for the Hong Kong Stock Exchange on October 7, with Haitong International Securities Group serving as the exclusive sponsor.
Huawei has at least three departments studying and exploring Web3, and the HarmonyOS team is one of them. Before Huawei, Samsung and HTC have already worked on Web3, successfully combining it with their own smartphone hardware.
ByteDance's product launches are highly data dependent, with test results determining which features go live and algorithms determining which videos users see. When it comes to games, however, there are many more than just these factors.
Following the release of a digital mini-game called "Sheep a Sheep," which has recently gone viral in China, a new GameFi version has quietly been launched. Its token price has experienced roller coaster-like fluctuations within a short period of time.