Tencent plans to divest $24 billion Meituan stake: sources
Tencent, which owns 17% of Meituan, has been engaging with financial advisers in recent months to work out how to execute a potentially large sale of its Meituan stake
US game software developer Unity to prepare China JV for expansion
The JV, named Unity China, will shortly kickoff building local custom versions of its core products for game developers and will get the sectional benefactor of Unity’s products and services in China.
Tencent seeks to heighten stake in ‘Assassin’s Creed’ maker Ubisoft, sources say
Mainland china’s largest social network and gaming firm, which bought a v% pale in Ubisoft in 2018, has reached out to the French firm’s founding Guillemot family and expressed involvement in increasing its stake in the firm, four sources with direct knowledge of the matter said. It is not clear how much more than Tencent plans to own in Ubisoft, valued at $5.iii billion, two of the sources said.
US game software developer Unity in talks to spin off China unit: sources
San Francisco-based Unity has sought strategic investors to join it in a business organisation valued at over $one billion during talks, said ii of the people, declining to be identified equally they were not authorised to speak publicly on the matter.
Prc grants licences to 136 online games
Titles belonging to tech companies Tencent and NetEase Inc were non on the approved listing published by the National Press and Public Administration.
View: Policy needs to demarcate the difference between gambling and gaming
The income-tax treatment of these two types of activity likewise differs. Winnings from games of chance are taxed at the highest slab without allowance for deductions against expenses, while games involving skill are taxed at the rate applicable to a person’s income. The current GST rate of xviii% on platform fees does not disharmonize with either the legal standing of item games or the revenue enhancement treatment of the winner’s good fortune.
Alibaba and Tencent stocks plunge later on latest fines
Information technology included five of Alibaba’s transactions and 12 of Tencent’s. A wide-reaching crackdown on the applied science sector has often striking stock prices in Hong Kong and Shanghai. For violations in each example, the maximum fine was 500,000 yuan ($74,500).
Alibaba and Tencent stocks plunge after latest fines by Chinese regulators
Ecommerce giant Alibaba’south shares in Hong Kong roughshod 6.8%, while gaming and social media visitor Tencent Holdings sank iii.ii%. The Hang Seng index declined 3%.
Ex-TikTok gaming head Jason Fung to launch blockchain games startup
The 34-yr-old left TikTok last month after ii years with the firm, and his exit comes as TikTok and its Chinese owner ByteDance have been aggressively expanding into the $300 billion dollar global gaming market to take on rival Tencent Holdings, an effort that has yielded mixed results so far.
Tencent forms ‘extended reality’ unit every bit metaverse race gathers steam – sources
The unit is tasked with building up the extended reality business for Tencent, including both software and hardware.
ByteDance shuts game development studio, lays off over 100
ByteDance’s gaming studio had around 300 employees and according to the written report, some of them take been transferred to other verticals within the visitor.
India’due south WTO stand worries Large Tech; United states foray for InMobi’s Glance
India is set to firmly oppose any further extension of a moratorium on customs duty for ‘electronic transmissions’ at the WTO’due south 12th ministerial briefing, which kicked off on Sunday.
Tencent buys stake worth $264 million in Flipkart from Binny Bansal
The transaction was completed on October 26, 2021 and was shared with the regime government at the beginning of the current financial year. Post the transaction, Tencent arm holds 0.72 per stake in Flipkart which is valued at around USD 264 one thousand thousand, as per last valuation of USD 37.half dozen billion disclosed by the due east-commerce firm in July 2021.
China approves lx new games, sparking hopes tech crackdown is ending
Officials in China — the earth’s biggest gaming market — rolled out a serial of restrictions last year equally role of a sweeping government campaign to rein in huge tech firms.
Alibaba reports slowest growth notwithstanding amid COVID-xix outbreaks
Revenue increased 9% to 204.05 billion yuan ($30.3 billion) in the iii months concluded March, every bit its core e-commerce platforms Taobao and Tmall suffered from disruptions in supply concatenation and logistics and a dip in demand due to COVID-19 outbreaks in March, the visitor said.
Tencent reports Q1 turn a profit slump, no growth in revenue
Tencent’s revenue totalled 135.v billion yuan ($20.08 billion) in the quarter ended March, versus 135.3 billion yuan in the same quarter terminal yr, and beneath an average estimate of 141 billion yuan from 16 analysts, co-ordinate to Refinitiv.
Tencent to cake Chinese gamers’ admission to foreign, unapproved games
The motility comes days after China lifted a nine-month freeze on gaming licences. During this period gaming companies including Tencent made major adjustments to their business practices to comply with regulatory requests.
Tencent closes Twitch competitor Penguin Esports months after China banned a $half-dozen billion gaming merger
Tencent owned Penguin Esports shuts down its video game streaming platform just months after Communist china banned a massive gaming merger that would have turned into an internet killer in the industry.
Tencent posts slowest-e’er sales rise; regulation bear on set to ease
Tencent Holdings, which gets much of its acquirement from gaming and develops games such as ‘Honor of Kings’ and ‘Call of Duty Mobile’, said domestic gaming sales grew i% in the quarter ended December 31.
People’s republic of china weighs Tencent payments overhaul, new license requirement
The potential movement would nowadays a fresh hurdle for Tencent, which along with other internet firms was told in 2021 to cordon off financial services from its principal business.
Prc apps ban: Gaming, beauty and dating apps dominate latest listing
This is the fifth round of major bans of Chinese apps by the Indian regime following edge tensions with People’s republic of china in 2020.
Game over for Fortnite in China as Ballsy Games pulls the plug
Epic Games had announced two weeks ago that it would shut downwards the Chinese version of Fortnite on November xv, noting that “Fortnite Communist china’s Beta examination has reached an stop” and that servers would be airtight.
Indians spend 4.8 hours a day on mobile apps; Musk sells $5B Tesla shares
A new report by App Annie, an app marketplace analytics business firm, puts numbers to something we’ve all known for 19 months now—that we’ve all been spending way, style, style more time on our phones since Covid and lockdowns striking.