- Tencent Holdings Ltd (OTC:TCEHY) looks to unleash its flagship mobile game "Honor of Kings" globally by the end of 2022, Reuters reports.
- Tencent will launch the international version under its Singapore-based brand Level Infinite, formed in 2021 to help games globally.
- "Honor of Kings," with over 95% of its users in China, ranked as the world's top-grossing game in April with more than $274 million in player spending, up 6.2% year on year.
- Tencent's multiplayer action game generated $10 billion in revenue between its 2015 launch and September 2021.
- China stopped issuing gaming monetization licenses in China in July 2021 to contain teenagers' addiction to games.
- The latest batch of 60 game licenses did not include Tencent.
- Tencent missed the Q1 consensus as domestic revenue declined by 1%.
- Alibaba Group Holding Limited (NYSE:BABA) and other Chinese companies also explored international expansion as regulatory crackdowns weighed on the stocks.
- China's top economic official recently hinted toward possible ease in the ongoing crackdown on digital platform companies.
