Tencent Holding Ltd’s (OTC:TCEHY) CEO, Pony Ma, acknowledges the gaming industry’s significant challenges while highlighting progress in AI development. At Tencent’s annual meeting in Shenzhen, Ma admitted that the company had become complacent in its gaming sector, allowing competitors to release new, successful games. The company, along with peers like Alibaba Group Holding Limited (NYSE:BABA), noted a significant reduction in their external investments as the economy battled a slowdown, regul
The draft regulations require gaming companies to introduce caps on recharging in-game wallets and remove features which are meant to increase gameplay such as rewards for daily log-ins.
(Bloomberg) Tencent Holdings Ltd. has returned about $24 billion to shareholders via buybacks and dividends this year. But even that won’t convince investors that it’s due for a turnaround following a $42 billion market value wipeout.Most Read from BloombergIsrael Latest: Blinken Works on Gaza Aid as Biden Set to VisitYour Guide to Understanding the Roots of the Israel-Hamas WarPutin Arrives in China to Meet Xi on Rare International TripIsrael Latest: Army Says Hamas Officials Dead; Over 600,
The regulatory overhaul and increased competition in China has hit Tencent Music, but are things about to improve after Chinese stocks soared higher this week?