by Amruth Sundarkumar | Mar 15, 2022 | China, Corporates
Tencent Holdings faces a potential “record fine for violations of some central bank regulations by its WeChat Pay mobile network”, according to the Wall Street Journal. Chinese financial regulators noticed that WeChat Pay had flouted China’s...
by Amruth Sundarkumar | Jan 5, 2022 | China, Corporates
Tencent Holdings cut its stake in Singapore’s Sea Ltd. by selling $3bn in shares. The stake sale comes about a month after Tencent said it would give $16.4bn of JD.com stock as a one-time dividend. Bloomberg notes that the stake sale might also give indications of...
by Amruth Sundarkumar | Nov 11, 2021 | China, Investment Grade Bonds
Tencent reported a slowdown in its Q3 net profits to RMB 39.5bn ($6.2bn), a 3% growth YoY, its slowest growth in two years. Revenue increased 13% YoY to RMB 142.4bn ($22.2bn), the slowest since its listing in 2004. The revenue split is given below: Revenues from...
by Amruth Sundarkumar | Aug 19, 2021 | China, Corporates
Chinese tech major Tencent reported earnings on Wednesday with revenues up 20% and 23% to CNY 138.3bn ($21.4bn) and CNY 273.6bn ($42.3bn) for Q2 and H1 respectively. Revenue growth for the quarter was driven by: Games, up 12% to CNY 43bn ($6.6bn) led by games such...
by Amruth Sundarkumar | Jul 12, 2021 | China, Investment Grade Bonds
Tencent Holding’s backed $5.3bn merger of China’s two largest video gaming live-streaming platforms has been blocked by the Chinese regulator, State Administration for Market Regulation (SAMR). According to the antitrust regulator, the deal between Huya...
