Tencent Holdings

It was only the second time the Chinese tech giant gained licences for blockbuster titles since Beijing resumed issuing them in April

Meituan said it would maintain its mutually beneficial business relationship with Tencent after the divestment, which comes as the Shenzhen-based tech giant shuts some unprofitable businesses

Food-delivery service Meituan is among the assets that are in the pipeline for divestment, the paper reported.

Revenue from online games decreased both at home and abroad by 1%

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

Tencent declined in Hong Kong on Monday as investors pondered the extent to which Prosus, the Chinese company's biggest shareholder, will unload its stock

Tencent Holdings's revenue grew at the slowest pace since its 2004 listing, showing the financial toll of China's crackdown on its most lucrative businesses from gaming to advertising.

The potential move would present a fresh hurdle for Tencent, which along with other internet firms was told in 2021 to cordon off financial services from its main business.

The job cuts at the two companies would be their first major layoffs since Chinese regulators launched an unprecedented campaign a year-and-a-half ago to rein in its internet giants

Tencent itself has thus far mostly escaped formal regulatory action

Traders pointed to everything from warnings from regulators over the weekend about scams in the metaverse

About 64 per cent of PUBG Mobile's revenue was from China

Shares in DouYu, one of Tencent's main platforms for game marketing and China's No. 2 videogame streaming site, surged as much as 17.6% on the news, closing 14% higher on Thursday

The Hang Seng Tech Index fell 4.6%-the most since July-in a third straight day of declines

Tencent's handout may buy goodwill with the government, which has pushed for the dismantling of barriers and for tech firms to share the wealth

Chinese tech giants including Alibaba Group and Tencent Holdings were fined Saturday for failing to report corporate acquisitions

"The Chinese government will be in support of the development of such technologies as long as the user experience is actually provided under the regulatory framework," said Tencent's Lau

Revenue climbed 13% to 142.4 billion yuan, slightly below expectations, and was the slowest quarterly growth since the company went public in 2004, Refinitiv data showed

Li Zhanguo's two children, aged eight and four, don't have their own smartphones, but like millions of other Chinese children, they are no strangers to online gaming

Tencent had restricted users from sharing content from Douyin. In Feb, Douyin filed a complaint at a Beijing court saying this was monopolistic behaviour