∗Tencent Archives - Page 19 of 28

Tencent’s Total Revenue in Q2 Reaches 273.6 Billion Yuan, A 23% Increase Year-on-Year

Today, Tencent released its financial report for the second quarter of 2021, showing its total revenue reaching 273.6 billion yuan ($42.3 billion), up 23% year-on-year. Operating profit was 42.8 billion yuan, an increase of 14% YoY.

Tencent Is about to Complete the Preliminary Integration of Sogou

According to a release from Jiemian News on Thursday, Tencent will complete the integration of Sogou, a Chinese Internet service provider, as early as August. As a result, most of Sogou's business will be merged into Tencent PCG, while its main team will be merged with Tencent's highlights.

China Esports Weekly: Esports-Related Companies and Individuals Support Henan in Countering Floods, Tencent to Buy Sumo Group for $1.27B

While last week saw several key competitions and the unveiling of new plans across China’s esports industry, the country is currently in a state of grief and resistance in the wake of a shocking natural disaster. The Dota 2’s i-League has started in Shanghai, featuring 1.2 million yuan ($185,000) in total prize money. In the meantime, however, a record-breaking rainstorm struck in the central Chinese province of Henan and its capital city of Zhengzhou.

As Rainstorm Assails Central China, Domestic Companies Spring to Action

Henan, a central Chinese province home to over 100 million people, has over recent days suffered a once-in-60-year rainstorm. In response to the tragedy, many Chinese internet companies have announced emergency assistance for Henan.

SMIC Releases Equity Incentive Plan Worth 1.351 Billion Yuan

Chinese silicon chip maker SMIC on Monday announced on the official website of the Shanghai Stock Exchange that they decided to grant 67.5352 million restricted shares to 3,944 employees at a price of 20 yuan per share.

China VC Weekly: Xiaoice, Lingerie and More

In last week’s VC news, Microsoft’s China-based spin-off gets a new injection granting it unicorn status, local lingerie industry leader Neiwai raises a whopping $100 million in the latest round, Alibaba and SAIC motors back smart vehicle software startup Banma, attracting $46t4 million in investment from a cohort of new and old backers, all that while the Tencent-backed Indian streaming giant Gaana raises $40 million in debt financing.

Tencent Ventures Into Chip R&D and Design, a New Focus of Chinese Tech Giants

Tencent has over the past month posted several computer chip R&D positions to its official recruitment website, including chip architect, verification engineer, etc.

CATL Reaches Strategic Cooperation with Tencent Cloud to Jointly Build AI Innovation Base

Chinese electric vehicle battery manufacturer CATL has signed a strategic agreement with Tencent Cloud, aiming to jointly build an AI innovation base and expand cooperation.

Tencent Buys Over 11 Million Shares in Meituan, Raising Nearly $400 Million and Acquiring a 17.2% Stake in the Firm

On the evening of July 13, Chinese delivery and e-commerce giant Meituan announced that all preconditions for the items contained in Tencent's subscription agreement had been reached. The estimated net proceeds from the deal are expected to be about $400 million.

Chinese Internet Giants Want to Change Overtime Culture, but Employees Have Mixed Reactions

News of incidents involving premature deaths of young tech workers in China have hit the headlines and provoked criticism against the overwork culture. However, a recent ByteDance survey uncovered employees’ mixed emotions towards the practice.

Tencent to Build Global Headquarters on Artificial Island With $5.7 Billion Investment in Shenzhen

Tencent this month officially initiated a project to erect a brand new global headquarters in Shenzhen's Dachan Bay.

China Esports Weekly: Riot Games Confirms Five Chinese Cities to Host LoL Worlds, IQOO Joins Tencent Esports Technology Union

On June 16, Tencent and Hainan Resort Software Community hosted the annual Tencent Global Esports Summit at Haikou International Conference Center with the theme "Esports For More."

Short Video and “We-Media” Industry Castigated by Mainstream Platform Officials at Internet Convention

At the 9th annual China Internet Audio & Video Convention (CIAVC), which took place in Chengdu on June 3, mainstream video platform officials voiced criticism of short videos and so-called“we-media”" platforms.

Tencent Sued over Honor of Kings Game for Alleged Violations of Minors’ Rights

Tencent has been sued by a Chinese public interest group on June 1 following accusations of providing "inappropriate content for minors" in its popular mobile game Honor of Kings.

Tencent to Ramp Up Investment on Back of Strong Q1 Performance

Tencent Holdings on Thursday reported a 25% gain in first quarter revenue from a year earlier, as the Chinese tech giant pledged to further ramp up investment across various areas.

Tencent Cloud Launches Sub-brand to Improve Developer Solutions for Audio, Video Products

Tencent’s cloud services arm has launched a new audio and video sub-brand that will provide a suite of integrated software tools and programs to simplify product development and improve end-user experience across various industries.

Tencent Music Entertainment Admits Regulatory Pressure After Delivering Solid Q1 Performance

Chinese streaming giant Tencent Music Entertainment (TME) confirmed on Tuesday that it is facing heightened scrutiny from antitrust regulators after reporting better-than-expected first quarter financial results the previous day.

China Esports Weekly: Tencent Global Esports Annual Summit 2021 Planned, Worlds 2020 Contributed $4.6M to Shanghai Economy

Last week was significant for the China esports industry and for Tencent Esports in particular. Not only did a game publisher reveal its tournament and esports business summit plan, but solid achievements from Chinese esports events were also reported, according to a new report from the Chinese authority.

China Esports Weekly: Tencent Partners With Shanghai International Circuit for PEL, Xiaomi Earns Role of Title Sponsor for PMNC UK

Over the past week, the esports industry in China has celebrated the International Labor Holiday by hosting multiple esports competitions for audiences and fans. Shanghai-based tournament organizer Imba TV hosted its $185 thousand Dota 2 i-League at the Shanghai Aegean Shopping Park in front of a limited live audience, while Tencent and VSPN also hosted a two-year anniversary party for Peacekeeper Elite in Chongqing, at which multiple partnerships were signed.

China Imposes Stricter Oversight on Tencent and ByteDance’s Finance Arms as Crackdown on Big Tech Continues

Beijing summoned 13 internet companies engaged in finance business on Thursday, including Tencent and ByteDance, ordering them to comply with tougher regulations.

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