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The Latest Breaking News from Tencent

China calls for urgent boost to virus-hit economy

Beijing (AFP) - China's premier called for greater "urgency" in rolling out measures to support the virus-battered economy, state media reported Wednesday, days after data highlighted the stark impact of Covid-19 restrictions.

AFP

Tencent Misses Q1 Revenue As Regulatory Crackdown Takes Its Toll

Tencent Holding Ltd (OTC:TCEHY) reported first-quarter FY22 flat revenue growth year-on-year to 135.5 billion yuan ($20.1 billion), missing the consensus of 141 billion yuan as China started approving gaming licenses. Revenues from VAS were stable Y/Y at 72.7 billion yuan. Domestic Games revenues decreased by 1% Y/Y to 33.0 billion yuan due to the…

Benzinga

Alibaba Down Over 2%, Nio Jumps 7%: What's Weighing On Hong Kong Stocks Today?

Shares of U.S.-listed Chinese firms traded mixed in Hong Kong on Wednesday morning, with web search giant Baidu Inc (NASDAQ: BIDU) and electric vehicle maker NIO Inc (NYSE: NIO) among stocks that were in the green.

Benzinga

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Alibaba, Tencent To Post Lack-Luster Quarterly Results As Domestic Regulatory Crackdown Takes A Toll

Fastest growing companies like Alibaba Group Holding Limited (NYSE: BABA) and Tencent Holding Ltd (OTC: TCEHY) are struggling to keep up with even the most staid utilities amid

Benzinga

Why Alibaba, Nio, Chinese Peers Are Shooting Up In Hong Kong Today

Shares of U.S.-listed Chinese firms traded higher in Hong Kong on Tuesday morning, with electric vehicle makers leading gains, while tech majors such as Alibaba Group Holding Ltd (NYSE: BABA) and JD.com Inc (NASDAQ:

Benzinga

Governments and big tech in playoff for world power

Big tech and the Chinese and US governments are embroiled in a complex relationship of harmony and conflict. We are all at the mercy of the outcome, write Cecilia Rikap and Bengt-Åke Lundvall

Newsroom.co.nz

China’s tech workers face layoff bloodbath amid crackdown, losses

Tens of thousands of workers have been let go amid a regulatory crackdown and overly aggressive expansion.

Al Jazeera

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Why Alibaba, Other Tech Peers Are Slumping In Hong Kong Today

Shares of U.S.-listed Chinese companies slumped heavily in Hong Kong on Tuesday as the market opened after a long weekend.

Benzinga

Governments and Big Tech in playoff for world power

Big Tech companies and the Chinese and US governments are embroiled in a complex relationship of harmony and conflict. We are all at the mercy of the outcome.

360info

Drone Giant DJI's Russia Halt Pressures Other China Big-Techs

Key Takeaways: DJI has halted its Russia and Ukraine business and will reassess requirements in different legal jurisdictions, following wide-ranging western sanctions on Russia Other Chinese companies facing similar dilemmas include Alibaba, Lenovo, Huawei and Xiaomi By Tina Yip

Benzinga

Why Alibaba, Other Tech Peers Are Trading Higher In Hong Kong Today

Shares of U.S.-listed Chinese tech giants Alibaba Group Holding Ltd (NYSE: BABA), Baidu Inc (NASDAQ: BIDU), JD.Com (NASDAQ: JD), and <

Benzinga

Full Truck Alliance Shift Up a Gear on Regulatory Easing Reports

Key Takeways: Full Truck Alliance shares are up 60% from a mid-March low, including a 32% gain since Friday, on reports that Beijing may ease its regulatory oversight of big tech companies Company is currently undergoing a data security review and said its business could contract in the second quarter…

Benzinga

China's top leaders signal reprieve for tech companies

Loosening restrictions could remove one source of downward pressure on China's economy.

Axios

Top Stories of the Month: Shanghai’s Rocky Road to Rebooting

China’s financial, logistics and manufacturing giant struggles to get back on its feet as Covid lockdowns snarl logistics and restrict the workforce

Caixin Global

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USA Today Sports Media Group

Major Chinese livestreaming platforms planning huge layoffs in blow to Tencent

Huya plan to cut 70% of their 200-person international arm, and 20% of the rest of their business. Douya will be cutting 30% of staff company-wide.

Benzinga

Mass Layoffs at 'China's Instagram': Tough Times or Primping for IPO?

Key takeaways: Xiaohongshu’s recent major layoffs could reflect a tough advertising market, even as it framed the move as normal workforce turnover Others reportedly laying off large numbers of workers include top livestream gaming platforms Huya and DouYu, whose planned merger was nixed by regulators last year

Benzinga

Yuanxin Tempts Investors With One-Stop Medical Formula in Hong Kong IPO

Key takeaways: Yuanxin Technology has filed for a Hong Kong IPO a second time, aiming to set itself apart from rivals with its wide range of medical services The company’s revenue grew 65% last year, but its losses are growing even more quickly By Li Yaoyao

Benzinga

NetEase's Cloud Music Prosecutes Tencent Music

NetEase, Inc's (NASDAQ: NTES) Cloud Music unit prosecuted Tencent Music Entertainment Group (NYSE: TME) for alleged unfair competition and plagiarizing its app design, Reuters reports.

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news in one place.

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Benzinga

Alibaba Slips, JD Bucks Tech Slide: What's Dragging Hong Kong Stocks Today

Shares of U.S.-listed Chinese tech giants Alibaba Group Holding Ltd (NYSE: BABA), Tencent Holdings (OTC: TCEHY), JD.Com (NASDAQ: JD), an

Benzinga

Analysis: Will Elon Musk's Twitter Kowtow To Chinese Communist Party Influence?

When Elon Musk first notified the U.S.

Benzinga

Alibaba, Other Tech Peers Snap Losing Streak In Hong Kong: What's Driving Them Today?

Shares of U.S.-listed Chinese tech giants Alibaba Group Holding Ltd (NYSE: BABA), Tencent Holdings (OTC: TCEHY), JD.Com (NASDAQ:

The Street

Microsoft Isn't Finished Buying Game Companies

Activision Blizzard won't be the last studio Microsoft acquires.

Al Jazeera

Game over? China’s game industry navigates post-crackdown era

Beijing is continuing its strict oversight of the gaming sector despite lifting nine-month freeze on new titles.

Benzinga

Alibaba, Other Tech Peers Slide For Fourth Session: What's Up With Hong Kong Tech Stocks Today?

Shares of U.S.-listed Chinese tech firms Alibaba Group Holding Ltd (NYSE: BABA), Tencent Holdings (OTC: TCEHY), JD.Com (NASDAQ: JD), and

Benzinga

Why Alibaba, Other Tech Peers Are Sliding For A Third Straight Day In Hong Kong

Shares of U.S.-listed Chinese tech firms Alibaba Group Holding Ltd (NYSE: BABA), Tencent Holdings (OTC: TCEHY), JD.Com (NASDAQ: JD), and

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