Tencent Holdings Stock News

NASPERS, a global internet and entertainment group and technology investor, said yesterday that it had invested $5.2 billion (R79.3bn) in new acquisitions to expand its ecosystems, mainly in food delivery to position the business for continued long-term growth, and flagged lower headline earnings a share for the half-year ended September 2021. Prosus and parent Naspers told investors that earnings in the six months ended September would dim as the Chinese crackdown weighed heavily on Tencent. Naspers said headline earnings were expected to decrease in the current period by as much as 12 percent, mainly due to the increase in net finance costs and the decrease in the contribution of fair value gains by our associates. Tencent in tandem with the Chinese gaming industry has been subjected to stringent regulations. Naspers said core headline earnings per share for the current period was expected to increase by between 29 and 54 cents per share or 8 and 15 percent driven by a larger contribution from Tencent, despite the sale of a 2 percent holding in that group.

Chinas sweeping clampdown on its internet industry has chilled investors and startups betting on once red-hot areas like games and e-commerce. But investors arent slowing their pace in the country. The consumer internet boom in the 2010s gave rise to juggernauts like Tencent and Alibaba. As digitization spreads to more traditional sectors, new giants will []

According to a 2019 report by Deloitte, about 80% of South Africans have a bank account but only 24% of them make more than three transactions monthly. Unlike other African countries, South Africa als

Alibaba Cloud will open data centers in South Korea and Thailand Alibaba Cloud will open up two more cloud data centers in South Korea and Thailand to provide local customers with localized digital technology services. The two centers are expected to enter operation in 2022. Prior to this, Alibaba Cloud has established hundreds of cloud [] China Tech Digest: Alibaba Cloud Will Open Data Centers In South Korea, Thailand; BlueFocus, Tencent Have In-depth Cooperation In Virtual Human comes from China Money Network : Primary Data for China''s Primary Markets! All Rights Reserved.

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Prosus sees H1 earnings per share up 400% on Tencent stake sale

Singapore state investor Temasek is reportedly taking a pause on new investments in Chinese tech firms until there is greater visibility on the regulatory landscape. Singapores Temasek is the latest major investor to voice worries about investing in Chinas technology sector amid an industrywide crackdown to address a myriad of issues. «We will probably wait to deploy more capital till we have a little bit more regulatory clarity in that space,» said Temaseks chief investment strategist Rohit Sipahimalani in an interview with «Nikkei Asia». «I would expect in the next few months you will have regulatory clarity, and that will shape some winners and losers out there.» Didi In July, the Cyberspace Administration of China reprimanded ride-hailing giant Didi by booting them off the countrys app stores two days after its $4.4 billion initial public offering in New York. «Today the concern investors have is no one knows what is it that the company needs to do to comply, said Sipahimalani with regards to Didi, which, amongst other tech firms like Tencent and Alibaba, is backed by Temasek investments. «So therefore, it is difficult to know whether they will be able to, will not, or what the impact on the company will be so then it becomes difficult to invest.» Antimonopoly Regulations One particular area where Temasek is seeking clarity is Chinas antimonopoly stance and the restrictions placed on tech platforms. «Right now, [the Chinese authorities] are asking Alibaba and Tencent to open their platforms, [to] open to each other and the others you know, what else?» Sipahimalani said. «Little More Blunt and Quick» In addition to regulatory focus, Sipahimalani also highlighted the regulatory approach and its impact on the market. «The Chinese government wants to address things like monopoly power of big tech platforms.

Technology investor Prosus NV expects a large rise in earnings per share for the first half of its 2022 fiscal year, the firm said on Tuesday, as it gained proceeds of $12.3 billion from selling part

Chinese Internet Stocks: A Rising Tide Lifts All Boats

Tencents WeChat Pay has entered arrangements to connect directly with the mobile apps of nearly a dozen leading financial institutions in China, amidst efforts by Chinese regulators to better integrate the payments system and reduce anti-competitive conduct. Tencent recently announced that WeChat Pay has entered cooperative arrangements to connect directly with the apps of multiple []

The biggest Chinese company and the 11th largest enterprise in the world in terms of market capitalization, though disregarded by the professionals and unwanted by the retail investors. Tencent is an

Tencent: China's Tech Crackdown Not Lethal

Tencent Holdings Ltd (OTC: TCEHY) requested ByteDance's Douyin to allow short videos, based on Tencent's copyrighted films and TV shows, to show on Douyin, Reuters reports. Douyin is the Chinese ver

ByteDance's Douyin, the Chinese version of TikTok, said on Friday it had received a request from Tencent to allow short videos, based on Tencent's copyrighted films and TV shows, to be shown on Douyin