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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.
Up to now, Chinese regulators have not yet released information to dispel the rumors, but gaming shares have all fallen. Tencent Holdings and Bilibili fell by over 8%, while NetEase fell by over 11%.
The mobile game industry has arguably become the biggest beneficiary of the COVID-19 outbreak.
Tencent Games announced the launch of its new distribution brand, Level Infinite. The company touts the new brand as "dedicated to providing high-quality games to users all over the world".
PUBG MOBILE, along with Peacekeeper Elite (The Chinese version), has made over $3B USD in lifetime revenues, according to a report by Sensor Tower.
Nintendo announced a new deal with Tencent on April 26. The agreement will allow the Nintendo Switch, to finally break into mainland China, the world’s largest game market.
Tencent announced that starting from June 20th, the mobile game "Dungeon & Fighter: Origin" will no longer be available on certain Android app stores.
With this deal, the Chinese internet giant replaces Polish investment firm Rockbridge TFI to become the gaming company's largest shareholder.
Some netizens found that some elements on the teaser poster of Honor of Kings' spin-off game named Codename-03 came from the scenario Meteorite Shards Location in the game Genshin Impact owned by miHoYo Technology.
Tencent's net profit in the second quarter increased by 33% year-on-year, and the usage time of video accounts nearly doubled.
Tencent announced on Thursday afternoon that it will officially cease operations for its Diablo-like game, "Raziel," for users in the Chinese mainland at 11:00 on June 15, 2022.
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.